Sterling Investment Advisors Ltd. Invests $399,000 in Enbridge Inc. (NYSE:ENB)

Sterling Investment Advisors Ltd. acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,395 shares of the pipeline company’s stock, valued at approximately $399,000.

Several other hedge funds also recently made changes to their positions in ENB. CIBC Asset Management Inc increased its position in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares in the last quarter. National Bank of Canada FI grew its position in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. grew its position in Enbridge by 1.1% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ENB. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective 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. Finally, TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three research 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, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Down 0.6 %

Shares of Enbridge stock opened at $41.52 on Tuesday. The firm has a market capitalization of $90.47 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company’s fifty day moving average price is $43.35 and its two-hundred day moving average price is $41.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 155.81%.

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.