Kestra Private Wealth Services LLC Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Kestra Private Wealth Services LLC lifted its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 33.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,128 shares of the pipeline company's stock after purchasing an additional 13,677 shares during the period. Kestra Private Wealth Services LLC's holdings in Enbridge were worth $2,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Enbridge by 1,514.7% in 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 boosted its holdings in 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 worth $185,655,000 after buying an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 worth $498,734,000 after buying an additional 2,668,692 shares during the last quarter. National Bank of Canada FI boosted its holdings in 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 worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in 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 worth $168,258,000 after buying an additional 1,472,789 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research firms recently issued reports on ENB. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock. Royal Bank of Canada restated an "outperform" rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.00.

Enbridge Price Performance

Shares of Enbridge stock traded down $2.33 on Friday, hitting $43.13. 5,862,322 shares of the company were exchanged, compared to its average volume of 4,078,409. The stock has a market capitalization of $93.95 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The company has a 50-day moving average price of $43.33 and a 200 day moving average price of $41.70. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed 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 yield of 6.21%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is presently 121.76%.

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.