Sterling Investment Advisors Ltd. Purchases New Holdings in Enbridge Inc. (NYSE:ENB)

Sterling Investment Advisors Ltd. acquired a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,395 shares of the pipeline company's stock, valued at approximately $399,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. apricus wealth LLC lifted its position in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. boosted its position in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after buying an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in Enbridge by 3.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock worth $297,000 after buying an additional 242 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ENB. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research 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 research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $67.00.

Enbridge Stock Performance

NYSE ENB traded up $1.00 during mid-day trading on Friday, reaching $42.73. 4,436,885 shares of the stock were exchanged, compared to its average volume of 4,407,628. The business's 50 day moving average is $43.40 and its 200-day moving average is $41.95. The company has a market capitalization of $93.11 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. 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 (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, topping analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. Enbridge's dividend payout ratio (DPR) is 155.81%.

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.