Enbridge Inc. (NYSE:ENB) Position Increased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 286.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,729 shares of the pipeline company's stock after purchasing an additional 39,827 shares during the period. Lake Street Advisors Group LLC's holdings in Enbridge were worth $2,280,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after buying an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock valued at $52,880,000 after buying an additional 319,907 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after buying an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after buying an additional 15,207 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Trading Up 2.4 %

Shares of NYSE:ENB traded up $1.00 during midday trading on Friday, reaching $42.73. The company had a trading volume of 4,436,885 shares, compared to its average volume of 4,407,628. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $93.11 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a fifty day simple moving average of $43.42 and a two-hundred day simple moving average of $41.98.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company posted $0.64 EPS. Research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is currently 155.81%.

About Enbridge

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.