2,462 Shares in Enbridge Inc. (NYSE:ENB) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,462 shares of the pipeline company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the period. National Bank of Canada FI boosted its position 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 valued at $737,754,000 after buying an additional 2,061,758 shares during the period. JPMorgan Chase & Co. boosted its position in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 valued at $498,734,000 after buying an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC boosted its position in Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after buying an additional 985,546 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company upgraded shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $41.95 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 firm has a 50-day moving average of $43.35 and a 200-day moving average of $41.84. The firm has a market cap of $91.40 billion, a P/E ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results 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 net margin of 10.04% and a return on equity of 10.15%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.12 EPS 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 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 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.