Miller Howard Investments Inc. NY Increases Stock Position in Enbridge Inc. (NYSE:ENB)

Miller Howard Investments Inc. NY increased its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 888,847 shares of the pipeline company's stock after acquiring an additional 44,544 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Enbridge were worth $37,714,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ENB. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust boosted its holdings 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 acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of Enbridge during the third quarter valued at approximately $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB traded up $0.35 on Monday, reaching $44.80. 2,769,395 shares of the company's stock traded hands, compared to its average volume of 3,878,190. The stock's 50 day simple moving average is $43.20 and its two-hundred day simple moving average is $41.48. The stock has a market cap of $97.60 billion, a PE ratio of 20.74, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

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 5.98%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is presently 121.76%.

Analyst Upgrades and Downgrades

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