Private Advisor Group LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

Private Advisor Group LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,109 shares of the pipeline company's stock after purchasing an additional 6,620 shares during the period. Private Advisor Group LLC's holdings in Enbridge were worth $5,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 32.6% in 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 acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after purchasing an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.2 %

ENB stock traded up $0.10 during trading on Wednesday, reaching $41.75. 1,407,426 shares of the stock were exchanged, compared to its average volume of 4,405,708. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market cap of $90.97 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The firm's 50 day moving average is $43.35 and its 200 day moving average is $41.96. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 2.14 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 dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. Enbridge's dividend payout ratio is currently 155.81%.

Analyst Ratings Changes

Several analysts recently commented on the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Enbridge presently has an average rating of "Hold" and a consensus price target of $67.00.

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.