Park Avenue Securities LLC Purchases 7,568 Shares of Enbridge Inc. (NYSE:ENB)

Park Avenue Securities LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,030 shares of the pipeline company’s stock after purchasing an additional 7,568 shares during the quarter. Park Avenue Securities LLC’s holdings in Enbridge were worth $1,826,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Enbridge by 27.8% during the 3rd 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 purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI increased its position 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 valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ENB. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities started coverage on Enbridge in a research report on Wednesday. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.53 on Friday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.90. The company has a market capitalization of $97.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The stock’s fifty day moving average is $42.75 and its two-hundred day moving average is $40.54. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

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.