Enbridge Inc. (NYSE:ENB) Shares Acquired by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,507 shares of the pipeline company’s stock after purchasing an additional 240 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Enbridge were worth $106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Enbridge by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 432,120 shares of the pipeline company’s stock valued at $15,353,000 after purchasing an additional 2,291 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in Enbridge in the second quarter valued at approximately $240,000. Envestnet Asset Management Inc. boosted its holdings in shares of Enbridge by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 3,852,464 shares of the pipeline company’s stock valued at $137,094,000 after acquiring an additional 120,490 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of Enbridge by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock worth $480,000 after acquiring an additional 488 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Enbridge by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock valued at $86,399,000 after acquiring an additional 25,717 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.3 %

Shares of NYSE:ENB opened at $43.36 on Tuesday. The company has a market cap of $94.45 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The firm’s 50-day simple moving average is $42.56 and its 200-day simple moving average is $40.36. 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 released its 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 company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently 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.