Capital Advisors Inc. OK Acquires Shares of 710,346 Enbridge Inc. (NYSE:ENB)

Capital Advisors Inc. OK acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 710,346 shares of the pipeline company’s stock, valued at approximately $30,140,000.

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

Enbridge Stock Up 1.1 %

Enbridge stock opened at $45.29 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $98.65 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The business has a fifty day moving average price of $43.23 and a 200-day moving average price of $41.54.

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. 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 5.92%. Enbridge’s dividend payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Enbridge currently has an average 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.