KPP Advisory Services LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

KPP Advisory Services LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 5,970 shares of the pipeline company’s stock after buying an additional 242 shares during the period. KPP Advisory Services LLC’s holdings in Enbridge were worth $253,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Enbridge Price Performance

Shares of Enbridge stock opened at $42.94 on Tuesday. The firm has a market cap of $93.54 billion, a PE ratio of 19.88, a P/E/G ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average price of $43.11 and a 200 day moving average price of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating 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 analysts’ expectations of $4.54 billion. During the same period in the previous year, the business earned $0.46 earnings per share. Sell-side analysts predict 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. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 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.