Patriot Financial Group Insurance Agency LLC Purchases 1,436 Shares of Enbridge Inc. (NYSE:ENB)

Patriot Financial Group Insurance Agency LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,711 shares of the pipeline company’s stock after purchasing an additional 1,436 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Enbridge were worth $1,685,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of 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 purchasing an additional 936,863 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.6 %

Shares of ENB stock opened at $44.95 on Tuesday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a 50-day moving average of $42.99 and a two-hundred day moving average of $40.93. The firm has a market cap of $97.91 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 4.15 and a beta of 0.93.

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Analyst Ratings Changes

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

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.