Brown Lisle Cummings Inc. Grows Holdings in Enbridge Inc. (NYSE:ENB)

Brown Lisle Cummings Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,309 shares of the pipeline company’s stock after buying an additional 3,324 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Enbridge were worth $1,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth $303,000. Herbst Group LLC grew its holdings in Enbridge by 12.9% in the 3rd quarter. Herbst Group LLC now owns 17,500 shares of the pipeline company’s stock valued at $711,000 after buying an additional 2,000 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Enbridge in the 3rd quarter worth $1,286,000. MKT Advisors LLC purchased a new position in shares of Enbridge during the 3rd quarter worth $231,000. Finally, Salvus Wealth Management LLC boosted its position in shares of Enbridge by 1.7% during the 3rd quarter. Salvus Wealth Management LLC now owns 18,916 shares of the pipeline company’s stock valued at $768,000 after acquiring an additional 315 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent analyst reports. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $42.94 on Tuesday. The stock has a market capitalization of $93.54 billion, a PE ratio of 19.88, a P/E/G ratio of 4.02 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a 50 day moving average of $43.11 and a two-hundred day moving average of $41.22.

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

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 issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.24%. Enbridge’s payout ratio is 121.76%.

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.