Mn Services Vermogensbeheer B.V. Has $16.10 Million Position in Enbridge Inc. (NYSE:ENB)

Mn Services Vermogensbeheer B.V. increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,400 shares of the pipeline company’s stock after buying an additional 19,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Enbridge were worth $16,095,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its holdings in 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 during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge in the third quarter worth $35,000. Darwin Wealth Management LLC bought a new position in Enbridge during the third quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

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 company has a market capitalization of $90.94 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The stock has a 50 day moving average of $43.40 and a 200-day moving average of $41.95. 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) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.64 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company 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 $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 155.81%.

Analyst Upgrades and Downgrades

Several analysts have commented on ENB shares. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted 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 upgraded shares of 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.