EP Wealth Advisors LLC Has $416,000 Stock Position in Enbridge Inc. (NYSE:ENB)

EP Wealth Advisors LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,561 shares of the pipeline company’s stock after purchasing an additional 1,587 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enbridge were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Canoe Financial LP boosted its position in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after acquiring an additional 33,419,164 shares during the period. Wellington Management Group LLP boosted its position in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Norges Bank acquired a new stake in Enbridge during the 4th quarter worth about $714,662,000. TD Asset Management Inc boosted its position in Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. Finally, Vanguard Group Inc. boosted its position in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.1 %

ENB opened at $34.80 on Wednesday. The business has a 50-day moving average of $35.84 and a 200-day moving average of $35.63. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a market capitalization of $73.99 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.29 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. Equities research analysts forecast that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.78%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.20.

About Enbridge

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.