Concurrent Investment Advisors LLC Has $2.13 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Concurrent Investment Advisors LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 50,095 shares of the pipeline company’s stock after buying an additional 841 shares during the period. Concurrent Investment Advisors LLC’s holdings in Enbridge were worth $2,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC grew its holdings in Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the period. National Bank of Canada FI grew its holdings in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its holdings in Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.6 %

Shares of NYSE:ENB opened at $41.74 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market cap of $90.94 billion, a PE ratio of 24.26, a P/E/G ratio of 3.95 and a beta of 0.94. The business has a 50 day moving average of $43.35 and a 200-day moving average of $41.87. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts forecast 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 paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Analyst Ratings Changes

ENB has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.00.

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.