Mackenzie Financial Corp Purchases 319,435 Shares of Enbridge Inc. (NYSE:ENB)

Mackenzie Financial Corp increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,880,985 shares of the pipeline company’s stock after buying an additional 319,435 shares during the quarter. Enbridge makes up 1.0% of Mackenzie Financial Corp’s investment portfolio, making the stock its 16th largest holding. Mackenzie Financial Corp’s holdings in Enbridge were worth $800,507,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of Enbridge during the 4th quarter worth about $42,000. Vision Financial Markets LLC acquired a new position in shares of Enbridge during the 4th quarter worth about $47,000. Finally, New Wave Wealth Advisors LLC bought a new position in Enbridge during the fourth quarter worth $52,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $46.04 on Friday. The stock has a market capitalization of $100.37 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business’s fifty day moving average price is $44.74 and its two-hundred day moving average price is $43.60.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $10.20 billion. During the same period in the previous year, the business earned $0.92 earnings per share. As a group, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 5.90%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 139.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ENB shares. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.00.

About Enbridge

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.