Beacon Pointe Advisors LLC Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Beacon Pointe Advisors LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 321,024 shares of the pipeline company’s stock after buying an additional 13,205 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Enbridge were worth $13,621,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its holdings in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after purchasing an additional 7,986 shares during the last quarter. Aviso Financial Inc. boosted its holdings in Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $46.63 on Tuesday. The firm has a market capitalization of $101.66 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $46.70. The business has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $43.02. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company earned $0.64 EPS. Equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.82%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is presently 157.56%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.