Exchange Traded Concepts LLC Has $50 Million Holdings in Enbridge Inc. (NYSE:ENB)

Exchange Traded Concepts LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178,502 shares of the pipeline company’s stock after buying an additional 80,821 shares during the quarter. Enbridge makes up about 1.0% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 12th largest position. Exchange Traded Concepts LLC owned 0.05% of Enbridge worth $50,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. National Bank of Canada FI boosted its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after acquiring an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Enbridge by 27.8% in 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 period. Finally, Geode Capital Management LLC boosted its position in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.3 %

ENB opened at $44.71 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The stock has a fifty day moving average of $42.89 and a 200-day moving average of $40.76. The company has a market capitalization of $97.39 billion, a P/E ratio of 20.69, a P/E/G ratio of 4.15 and a beta of 0.93.

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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.99%. Enbridge’s payout ratio is currently 124.07%.

Analysts Set New Price Targets

Several analysts recently commented on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

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.