Foundations Investment Advisors LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Foundations Investment Advisors LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,842 shares of the pipeline company’s stock after acquiring an additional 8,151 shares during the period. Foundations Investment Advisors LLC’s holdings in Enbridge were worth $2,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after acquiring an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 27.8% during the third 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 acquiring an additional 2,668,692 shares in the last quarter. National Bank of Canada FI increased its holdings in Enbridge by 12.8% in the 3rd 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. Finally, Kayne Anderson Capital Advisors LP lifted its stake in Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.4 %

ENB opened at $44.51 on Wednesday. The stock has a 50-day moving average of $43.03 and a 200 day moving average of $40.99. 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. The firm has a market cap of $96.94 billion, a P/E ratio of 20.60, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm 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 business earned $0.46 EPS. As a group, research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced 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. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ENB shares. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has a consensus 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.