Exchange Traded Concepts LLC Increases Holdings in Enbridge Inc. (NYSE:ENB)

Exchange Traded Concepts LLC lifted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,178,502 shares of the pipeline company's stock after acquiring an additional 80,821 shares during the period. Enbridge makes up approximately 1.0% of Exchange Traded Concepts LLC's portfolio, making the stock its 12th largest position. Exchange Traded Concepts LLC owned approximately 0.05% of Enbridge worth $50,004,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT bought a new position in Enbridge in the fourth quarter valued at about $29,000. Grove Bank & Trust boosted its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.22 during trading on Friday, hitting $45.08. 2,027,970 shares of the company's stock were exchanged, compared to its average volume of 3,995,723. The business's 50-day simple moving average is $42.93 and its 200 day simple moving average is $40.79. The company has a market cap of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm posted $0.46 EPS. As a group, equities analysts predict that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.95%. Enbridge's dividend payout ratio is currently 124.07%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ENB shares. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.