Foster Victor Wealth Advisors LLC Purchases 8,299 Shares of Enbridge Inc. (NYSE:ENB)

Foster Victor Wealth Advisors LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,033 shares of the pipeline company's stock after purchasing an additional 8,299 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Enbridge were worth $11,886,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. National Bank of Canada FI grew its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock valued at $655,556,000 after acquiring an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company's stock worth $416,431,000 after purchasing an additional 985,546 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 2.7 %

Shares of NYSE ENB traded down $1.21 during trading on Friday, hitting $43.29. The stock had a trading volume of 6,187,249 shares, compared to its average volume of 3,494,552. The firm has a fifty day moving average of $43.11 and a two-hundred day moving average of $41.15. The company has a market capitalization of $94.31 billion, a PE ratio of 20.04, a PEG ratio of 4.11 and a beta of 0.93. 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 Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. As a group, equities research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is presently 124.07%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Finally, TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $63.00.

Enbridge 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.