FLC Capital Advisors Buys 5,484 Shares of Enbridge Inc. (NYSE:ENB)

FLC Capital Advisors grew its stake in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 102,078 shares of the pipeline company’s stock after purchasing an additional 5,484 shares during the quarter. Enbridge accounts for approximately 1.0% of FLC Capital Advisors’ holdings, making the stock its 28th biggest position. FLC Capital Advisors’ holdings in Enbridge were worth $4,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. Armstrong Advisory Group Inc. raised its position in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares during the last quarter. Eagle Bay Advisors LLC boosted its holdings in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 246 shares during the period. Associated Banc Corp raised its holdings in shares of Enbridge by 3.6% during the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 248 shares during the last quarter. Finally, Hobbs Group Advisors LLC lifted its position in Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.1 %

Shares of ENB stock opened at $44.53 on Monday. 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 company has a market cap of $97.00 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.90. The firm has a fifty day moving average price of $42.75 and a 200-day moving average price of $40.57.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on ENB

Enbridge Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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