Franklin Street Advisors Inc. NC Makes New $4.33 Million Investment in Enbridge Inc. (NYSE:ENB)

Franklin Street Advisors Inc. NC acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 101,952 shares of the pipeline company’s stock, valued at approximately $4,326,000.

A number of other large investors have also recently added to or reduced their stakes in ENB. Swiss National Bank lifted its position in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC raised its position in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after buying an additional 13,515 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Enbridge by 4.0% during the third 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 period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ENB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Trading Down 1.7 %

Shares of Enbridge stock traded down $0.73 during trading hours on Friday, reaching $43.29. The stock had a trading volume of 1,344,600 shares, compared to its average volume of 2,530,076. 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 Inc. has a 1 year low of $32.85 and a 1 year high of $44.13. The firm has a market capitalization of $94.30 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 4.14 and a beta of 0.93. The firm has a 50 day simple moving average of $42.45 and a two-hundred day simple moving average of $40.17.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

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.