Ballentine Partners LLC Raises Position in Enbridge Inc. (NYSE:ENB)

Ballentine Partners LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,939 shares of the pipeline company’s stock after buying an additional 597 shares during the period. Ballentine Partners LLC’s holdings in Enbridge were worth $464,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Enbridge by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after purchasing an additional 25,717 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Enbridge by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock worth $489,000 after acquiring an additional 861 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Enbridge by 4.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 1,766 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Enbridge by 7.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company’s stock valued at $5,054,000 after acquiring an additional 9,200 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Enbridge by 185.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 297,230 shares of the pipeline company’s stock worth $10,576,000 after purchasing an additional 192,975 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.2 %

Shares of NYSE:ENB opened at $44.87 on Friday. The company has a market capitalization of $97.73 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 4.20 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The business has a 50-day moving average price of $42.89 and a 200 day moving average price of $40.76. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 1.97 EPS for the current 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 paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Analyst Ratings Changes

Several equities research analysts recently commented on ENB shares. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company 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.