Sound Income Strategies LLC Has $26.81 Million Position in Enbridge Inc. (NYSE:ENB)

Sound Income Strategies LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 631,820 shares of the pipeline company’s stock after buying an additional 49,800 shares during the quarter. Enbridge comprises approximately 1.7% of Sound Income Strategies LLC’s portfolio, making the stock its 14th largest holding. Sound Income Strategies LLC’s holdings in Enbridge were worth $26,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT bought a new position in shares of Enbridge during the fourth quarter valued at $29,000. Grove Bank & Trust boosted its stake in shares of Enbridge by 56.7% in 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 in the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in shares of 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 last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.87 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $42.89 and a 200 day simple moving average of $40.76. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm has a market cap of $97.73 billion, a P/E ratio of 20.77, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the company earned $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share 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 given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.97%. Enbridge’s payout ratio is 124.07%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Company 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.