Capital Wealth Planning LLC Has $4.42 Million Holdings in Enbridge Inc. (NYSE:ENB)

Capital Wealth Planning LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 98.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,199 shares of the pipeline company’s stock after acquiring an additional 51,619 shares during the quarter. Capital Wealth Planning LLC’s holdings in Enbridge were worth $4,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares in the last quarter. Sound Income Strategies LLC grew its position in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

ENB stock opened at $42.73 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $93.11 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The firm has a 50 day moving average of $43.42 and a two-hundred day moving average of $42.00.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s dividend payout ratio is currently 155.81%.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three 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 has an average rating of “Hold” and a consensus target price of $67.00.

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.