Armstrong Advisory Group Inc. Raises Position in Enbridge Inc. (NYSE:ENB)

Armstrong Advisory Group Inc. increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,508 shares of the pipeline company’s stock after purchasing an additional 230 shares during the period. Armstrong Advisory Group Inc.’s holdings in Enbridge were worth $319,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ENB. Wealthspire Advisors LLC purchased a new stake in shares of Enbridge during the second quarter worth about $240,000. J.W. Cole Advisors Inc. boosted its stake in Enbridge by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock worth $480,000 after purchasing an additional 488 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Enbridge by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after purchasing an additional 25,717 shares during the last quarter. Argent Trust Co increased its stake in Enbridge by 0.3% during the 2nd quarter. Argent Trust Co now owns 101,559 shares of the pipeline company’s stock valued at $3,614,000 after purchasing an additional 343 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Enbridge by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock worth $3,272,000 after buying an additional 3,894 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

NYSE:ENB opened at $44.36 on Thursday. The firm’s fifty day moving average is $42.62 and its two-hundred day moving average is $40.42. The firm has a market cap of $96.63 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.74. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Research analysts expect that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.04%. Enbridge’s payout ratio is 124.07%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. TD Securities assumed coverage on Enbridge in a report on Wednesday. They issued a “buy” rating on the stock. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four 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, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

About Enbridge

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.