Kestra Private Wealth Services LLC Has $2.30 Million Holdings in Enbridge Inc. (NYSE:ENB)

Kestra Private Wealth Services LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 33.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,128 shares of the pipeline company’s stock after acquiring an additional 13,677 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Enbridge were worth $2,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ENB. CIBC Asset Management Inc lifted its stake in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Enbridge by 12.8% in 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after acquiring an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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. Finally, Geode Capital Management LLC grew its position in Enbridge by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after acquiring an additional 985,546 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ENB. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. 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, the company presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Enbridge stock opened at $45.29 on Wednesday. The stock’s 50 day moving average is $43.23 and its 200 day moving average is $41.54. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm has a market cap of $98.65 billion, a P/E ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 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.