Rogco LP Has $478,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Rogco LP grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,262 shares of the pipeline company’s stock after acquiring an additional 378 shares during the period. Rogco LP’s holdings in Enbridge were worth $478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Creative Planning boosted its stake in Enbridge by 5.9% during the 3rd quarter. Creative Planning now owns 241,572 shares of the pipeline company’s stock valued at $9,810,000 after purchasing an additional 13,455 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Enbridge by 7.3% in the third quarter. Bleakley Financial Group LLC now owns 19,407 shares of the pipeline company’s stock valued at $788,000 after purchasing an additional 1,313 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in shares of Enbridge during the third quarter valued at approximately $204,000. Blue Trust Inc. grew its holdings in Enbridge by 39.9% during the third quarter. Blue Trust Inc. now owns 13,736 shares of the pipeline company’s stock worth $558,000 after buying an additional 3,917 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in Enbridge by 5.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 53,802 shares of the pipeline company’s stock valued at $2,185,000 after buying an additional 2,564 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 5.1 %

Shares of ENB stock opened at $43.13 on Monday. The firm has a market cap of $93.95 billion, a P/E ratio of 19.97, a PEG ratio of 4.08 and a beta of 0.94. The company has a 50 day moving average of $43.33 and a 200-day moving average of $41.73. 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 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $0.64 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several analyst reports. 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 reiterated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of $63.00.

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.