Focus Partners Wealth Has $19.84 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Focus Partners Wealth increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 774.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 467,349 shares of the pipeline company’s stock after purchasing an additional 413,875 shares during the quarter. Focus Partners Wealth’s holdings in Enbridge were worth $19,843,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC lifted its position in Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. lifted its position in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG lifted its position in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Norges Bank bought a new position in Enbridge in the 4th quarter valued at about $909,415,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $46.10 on Monday. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08. The company’s 50 day moving average price is $44.24 and its two-hundred day moving average price is $43.33. 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 stock has a market cap of $100.50 billion, a P/E ratio of 26.80, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same quarter last year, the firm earned $0.92 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 139.69%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada lifted 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.