Fifth Third Wealth Advisors LLC Has $860,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Fifth Third Wealth Advisors LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 43.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,257 shares of the pipeline company’s stock after buying an additional 6,123 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Enbridge were worth $860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC raised its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the period. Richardson Financial Services Inc. grew its holdings in Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the period. Associated Banc Corp increased its position in Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after buying an additional 248 shares during the last quarter. Hobbs Group Advisors LLC raised its stake in shares of Enbridge by 15.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after buying an additional 249 shares during the period. Finally, Centaurus Financial Inc. raised its stake in shares of Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after buying an additional 256 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 0.7 %

ENB stock opened at $44.36 on Thursday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.74. The firm has a market capitalization of $96.63 billion, a PE ratio of 20.54, a PEG ratio of 4.14 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a 50-day simple moving average of $42.62 and a two-hundred day simple moving average of $40.42.

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

Enbridge Cuts Dividend

The firm 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

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.