Miller Howard Investments Inc. NY Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Miller Howard Investments Inc. NY increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 888,847 shares of the pipeline company’s stock after purchasing 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.

Several other institutional investors have also bought and sold shares of the company. Swiss National Bank lifted its position 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 valued at $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings 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 worth $52,880,000 after acquiring an additional 319,907 shares during the period. Sound Income Strategies LLC grew its position in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its holdings in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

Shares of NYSE ENB opened at $44.51 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average of $43.20 and a 200-day moving average of $41.41. The firm has a market capitalization of $96.96 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.