Client 1ST Advisory Group LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Client 1ST Advisory Group LLC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,495 shares of the pipeline company’s stock, valued at approximately $276,000.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc grew its holdings in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares during the period. Toronto Dominion Bank grew its stake in shares of Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares during the last quarter. National Bank of Canada FI increased its position in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 176,733 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

NYSE:ENB opened at $44.53 on Monday. 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 firm has a 50-day moving average price of $42.75 and a 200 day moving average price of $40.57. The firm has a market capitalization of $97.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the company earned $0.46 EPS. Research analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 dividend on an annualized basis and a yield of 6.02%. Enbridge’s dividend payout ratio is 124.07%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.