Enbridge Inc. (NYSE:ENB) Shares Bought by Advocate Group LLC

Advocate Group LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 251,521 shares of the pipeline company’s stock after buying an additional 8,695 shares during the period. Enbridge accounts for approximately 2.0% of Advocate Group LLC’s investment portfolio, making the stock its 8th largest holding. Advocate Group LLC’s holdings in Enbridge were worth $10,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth about $28,000. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge during the fourth quarter worth about $29,000. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC lifted its holdings in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ENB shares. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $45.08 on Friday. The stock’s 50-day simple moving average is $42.99 and its 200 day simple moving average is $40.86. The company has a market cap of $98.19 billion, a P/E ratio of 20.87, a P/E/G ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Enbridge Company 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.