Adell Harriman & Carpenter Inc. Has $4.59 Million Holdings in Enbridge Inc. (NYSE:ENB)

Adell Harriman & Carpenter Inc. boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,216 shares of the pipeline company’s stock after buying an additional 315 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $4,592,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of 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 worth $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in 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 buying an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 worth $498,734,000 after buying an additional 2,668,692 shares in the last quarter. National Bank of Canada FI raised its stake in shares of 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. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of 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 acquiring an additional 1,472,789 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 5.1 %

NYSE ENB opened at $43.13 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 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The stock has a fifty day moving average of $43.33 and a 200-day moving average of $41.65.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.21%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ENB shares. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. 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 report on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average target price 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.