101,952 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 101,952 shares of the pipeline company’s stock, valued at approximately $4,326,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its position in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Enbridge by 4.0% in 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 acquiring an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after acquiring an additional 644,526 shares during the period. Finally, National Bank of Canada FI boosted its stake in 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 period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB traded down $0.73 during trading on Friday, reaching $43.29. The company’s stock had a trading volume of 1,344,600 shares, compared to its average volume of 2,530,076. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company’s fifty day moving average price is $42.45 and its 200-day moving average price is $40.17. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.13. The company has a market capitalization of $94.30 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the business earned $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 124.07%.

Wall Street Analyst Weigh In

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

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.