Versor Investments LP Grows Stake in Enbridge Inc. (NYSE:ENB)

Versor Investments LP raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 96.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,102 shares of the pipeline company’s stock after buying an additional 8,902 shares during the period. Versor Investments LP’s holdings in Enbridge were worth $768,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Enbridge during the third quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 2.4 %

Shares of NYSE ENB opened at $42.73 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $93.11 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.92 and a beta of 0.94. The stock has a 50 day moving average price of $43.42 and a 200 day moving average price of $41.98. 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, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the business earned $0.64 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed 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 6.27%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 155.81%.

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.