Soltis Investment Advisors LLC Has $5.66 Million Position in Enbridge Inc. (NYSE:ENB)

Soltis Investment Advisors LLC lifted its position in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 170,497 shares of the pipeline company’s stock after purchasing an additional 8,542 shares during the period. Soltis Investment Advisors LLC’s holdings in Enbridge were worth $5,661,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ENB. Coppell Advisory Solutions Corp. acquired a new position in shares of Enbridge during the fourth quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the fourth quarter worth approximately $25,000. Steward Financial Group LLC raised its position in shares of Enbridge by 114.6% during the second quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 384 shares during the period. Coppell Advisory Solutions LLC acquired a new position in shares of Enbridge during the second quarter worth approximately $26,000. Finally, Tyler Stone Wealth Management purchased a new stake in Enbridge in the 2nd quarter valued at $26,000. 48.29% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock traded down $0.50 on Monday, hitting $34.80. 968,441 shares of the stock were exchanged, compared to its average volume of 4,961,881. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $73.97 billion, a PE ratio of 31.80, a P/E/G ratio of 3.29 and a beta of 0.85. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.98. The firm’s 50 day moving average is $35.76 and its two-hundred day moving average is $34.72.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.88 billion. Enbridge had a return on equity of 10.02% and a net margin of 7.26%. Sell-side analysts expect that Enbridge Inc. will post 2.1 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.659 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.64 annualized dividend and a yield of 7.57%. This is an increase from Enbridge’s previous quarterly dividend of $0.64. Enbridge’s dividend payout ratio (DPR) is currently 234.23%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ENB shares. Wells Fargo & Company lowered Enbridge from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Wolfe Research lowered Enbridge from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, October 17th. Royal Bank of Canada lowered their price target on Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Finally, Barclays decreased their target price on Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $55.20.

Get Our Latest Report on ENB

Enbridge Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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