HB Wealth Management LLC Raises Position in Enbridge Inc. (NYSE:ENB)

HB Wealth Management LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 90.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,933 shares of the pipeline company's stock after buying an additional 6,603 shares during the period. HB Wealth Management LLC's holdings in Enbridge were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock worth $194,938,000 after buying an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company's stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $63.00.

Enbridge Stock Performance

NYSE ENB traded up $0.11 on Thursday, hitting $44.87. 5,112,733 shares of the company's stock were exchanged, compared to its average volume of 4,136,243. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm's 50-day moving average price is $42.89 and its two-hundred day moving average price is $40.76. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm has a market cap of $97.73 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 4.20 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, research analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is currently 121.76%.

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.