Foresight Capital Management Advisors Inc. Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Foresight Capital Management Advisors Inc. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund owned 76,389 shares of the pipeline company’s stock after purchasing an additional 4,754 shares during the period. Enbridge comprises about 1.9% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 21st largest holding. Foresight Capital Management Advisors Inc.’s holdings in Enbridge were worth $3,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. Wealthspire Advisors LLC bought a new position in shares of Enbridge in the second quarter worth about $240,000. J.W. Cole Advisors Inc. grew its holdings in Enbridge by 3.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock worth $480,000 after acquiring an additional 488 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 25,717 shares in the last quarter. Argent Trust Co boosted its holdings in shares of Enbridge by 0.3% in the 2nd quarter. Argent Trust Co now owns 101,559 shares of the pipeline company’s stock valued at $3,614,000 after buying an additional 343 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Enbridge by 4.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock valued at $3,272,000 after buying an additional 3,894 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ENB. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday. They issued a “buy” rating for the company. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised 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 company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

Enbridge stock opened at $44.36 on Thursday. The company’s fifty day moving average price is $42.62 and its 200 day moving average price is $40.42. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.74. The stock has a market capitalization of $96.63 billion, a P/E ratio of 20.54, a P/E/G ratio of 4.00 and a beta of 0.93. 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 announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.04%. Enbridge’s dividend payout ratio is presently 121.76%.

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.