Telos Capital Management Inc. Buys 2,285 Shares of Enbridge Inc. (NYSE:ENB)

Telos Capital Management Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,663 shares of the pipeline company’s stock after buying an additional 2,285 shares during the quarter. Telos Capital Management Inc.’s holdings in Enbridge were worth $6,011,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in Enbridge during the fourth quarter worth about $616,000. Tectonic Advisors LLC boosted its position in Enbridge by 9.8% during the fourth quarter. Tectonic Advisors LLC now owns 263,948 shares of the pipeline company’s stock worth $11,199,000 after purchasing an additional 23,654 shares during the period. Weaver Capital Management LLC boosted its position in Enbridge by 5.8% during the fourth quarter. Weaver Capital Management LLC now owns 39,679 shares of the pipeline company’s stock worth $1,684,000 after purchasing an additional 2,172 shares during the period. Groesbeck Investment Management Corp NJ bought a new position in Enbridge during the fourth quarter worth about $518,000. Finally, Hager Investment Management Services LLC bought a new position in Enbridge during the fourth quarter worth about $99,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research reports. Royal Bank of Canada reiterated 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. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 0.7 %

Shares of Enbridge stock opened at $44.23 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $96.34 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 4.02 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $43.15 and its 200-day moving average price is $41.34.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 6.06%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

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.