Five Oceans Advisors Grows Position in Enbridge Inc. (NYSE:ENB)

Five Oceans Advisors raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,279 shares of the pipeline company’s stock after purchasing an additional 708 shares during the period. Five Oceans Advisors’ holdings in Enbridge were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge in the fourth quarter valued at $29,000. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the 3rd quarter valued at about $35,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

ENB stock opened at $43.29 on Friday. The firm has a 50 day simple moving average of $43.11 and a two-hundred day simple moving average of $41.15. The stock has a market cap of $94.31 billion, a PE ratio of 20.04, a P/E/G ratio of 4.11 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business earned $0.46 earnings per share. On average, 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. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.19%. Enbridge’s dividend payout ratio is 121.76%.

Enbridge 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.