Argyle Capital Management LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Argyle Capital Management LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,341 shares of the pipeline company’s stock after purchasing an additional 1,133 shares during the period. Enbridge accounts for 1.3% of Argyle Capital Management LLC’s portfolio, making the stock its 24th largest position. Argyle Capital Management LLC’s holdings in Enbridge were worth $3,366,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the 4th quarter worth about $29,000. Fortitude Family Office LLC acquired a new position in shares of Enbridge in the 3rd quarter valued at about $35,000. Darwin Wealth Management LLC purchased a new stake in shares of Enbridge during the 3rd quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $41.74 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $43.40 and a 200 day simple moving average of $41.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.42%. Enbridge’s dividend payout ratio is presently 155.81%.

Analysts Set New Price Targets

Several research firms have issued reports on ENB. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.00.

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.