WESPAC Advisors LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

WESPAC Advisors LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,341 shares of the pipeline company’s stock after purchasing an additional 3,102 shares during the period. WESPAC Advisors LLC’s holdings in Enbridge were worth $821,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI increased its stake in Enbridge by 12.8% in 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 period. JPMorgan Chase & Co. increased its stake in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after buying an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after buying an additional 985,546 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.6 %

NYSE ENB opened at $41.74 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market capitalization of $90.94 billion, a PE ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The stock’s 50 day moving average is $43.35 and its 200 day moving average is $41.89.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ENB. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target 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.