Patten Group Inc. Acquires 483 Shares of Enbridge Inc. (NYSE:ENB)

Patten Group Inc. raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 27,190 shares of the pipeline company’s stock after purchasing an additional 483 shares during the quarter. Patten Group Inc.’s holdings in Enbridge were worth $1,154,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ENB. Charles Schwab Investment Management Inc. boosted its position in Enbridge by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,086,437 shares of the pipeline company’s stock valued at $258,200,000 after buying an additional 241,205 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Enbridge by 33.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 92,526 shares of the pipeline company’s stock valued at $3,926,000 after acquiring an additional 23,079 shares during the last quarter. Schechter Investment Advisors LLC boosted its holdings in Enbridge by 18.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 9,966 shares of the pipeline company’s stock worth $423,000 after buying an additional 1,570 shares during the last quarter. LGT Group Foundation grew its holdings in Enbridge by 0.5% during the fourth quarter. LGT Group Foundation now owns 260,660 shares of the pipeline company’s stock valued at $11,049,000 after purchasing an additional 1,240 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Enbridge in the 4th quarter valued at $1,405,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $42.68 on Tuesday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $93.00 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The stock’s 50-day moving average is $43.44 and its 200-day moving average is $42.04.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.28%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.00.

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.