Lake Street Advisors Group LLC Buys 39,827 Shares of Enbridge Inc. (NYSE:ENB)

Lake Street Advisors Group LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 286.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,729 shares of the pipeline company’s stock after acquiring an additional 39,827 shares during the period. Lake Street Advisors Group LLC’s holdings in Enbridge were worth $2,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new stake in shares of Enbridge in the 4th quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter worth $35,000. Darwin Wealth Management LLC acquired a new stake in Enbridge during the 3rd quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

ENB opened at $41.65 on Wednesday. The company has a market capitalization of $90.75 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.92 and a beta of 0.94. The business’s 50-day moving average price is $43.35 and its two-hundred day moving average price is $41.96. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

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.