Global Retirement Partners LLC Has $1.87 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Global Retirement Partners LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,974 shares of the pipeline company’s stock after purchasing an additional 3,622 shares during the quarter. Global Retirement Partners LLC’s holdings in Enbridge were worth $1,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. Foundations Investment Advisors LLC raised its position in Enbridge by 14.3% during the third quarter. Foundations Investment Advisors LLC now owns 47,691 shares of the pipeline company’s stock worth $1,937,000 after acquiring an additional 5,979 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Enbridge by 393.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 95,415 shares of the pipeline company’s stock valued at $3,875,000 after purchasing an additional 76,072 shares during the period. Eastern Bank bought a new stake in shares of Enbridge in the 3rd quarter valued at about $285,000. Waldron Private Wealth LLC lifted its stake in Enbridge by 5.8% in the 3rd quarter. Waldron Private Wealth LLC now owns 6,375 shares of the pipeline company’s stock valued at $259,000 after purchasing an additional 349 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Enbridge by 18.2% during the third quarter. Private Advisor Group LLC now owns 122,489 shares of the pipeline company’s stock worth $4,974,000 after buying an additional 18,891 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent analyst reports. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $41.95 on Friday. The company has a market capitalization of $91.40 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 4.03 and a beta of 0.94. The stock’s 50 day moving average is $43.35 and its 200-day moving average is $41.84. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm posted $0.64 EPS. Equities research analysts expect that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.39%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 155.81%.

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.