Beacon Investment Advisory Services Inc. Has $5.60 Million Holdings in Enbridge Inc. (NYSE:ENB)

Beacon Investment Advisory Services Inc. grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,036 shares of the pipeline company’s stock after purchasing an additional 865 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Enbridge were worth $5,602,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ENB. Swiss National Bank boosted its stake in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its position in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. Finally, Stonegate Investment Group LLC raised its position in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Enbridge stock opened at $44.77 on Thursday. The business’s fifty day moving average is $42.89 and its two-hundred day moving average is $40.76. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market cap of $97.53 billion, a P/E ratio of 20.73, a P/E/G ratio of 4.20 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.99%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

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.