Focus Financial Network Inc. Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Focus Financial Network Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,988 shares of the pipeline company’s stock after buying an additional 262 shares during the quarter. Focus Financial Network Inc.’s holdings in Enbridge were worth $721,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ENB. CIBC Asset Management Inc grew its stake in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. JPMorgan Chase & Co. raised its position in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC grew its position in Enbridge by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during 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 recently commented on ENB shares. TD Securities assumed 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 set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $45.15 on Thursday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a 50-day moving average price of $43.27 and a 200 day moving average price of $41.60. The company has a market cap of $98.36 billion, a P/E ratio of 20.90, a PEG ratio of 4.08 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. 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 5.94%. Enbridge’s dividend payout ratio (DPR) is presently 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.