Enbridge Inc. (NYSE:ENB) Stock Position Raised by Sound Income Strategies LLC

Sound Income Strategies LLC grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,820 shares of the pipeline company’s stock after buying an additional 49,800 shares during the quarter. Enbridge makes up about 1.7% of Sound Income Strategies LLC’s investment portfolio, making the stock its 14th largest holding. Sound Income Strategies LLC’s holdings in Enbridge were worth $26,808,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ENB. Dimensional Fund Advisors LP lifted its position in shares of Enbridge by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after buying an additional 25,717 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Enbridge by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock worth $489,000 after purchasing an additional 861 shares during the period. Thrivent Financial for Lutherans grew its holdings in Enbridge by 4.9% during the second quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 1,766 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Enbridge by 7.2% in the second quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company’s stock valued at $5,054,000 after purchasing an additional 9,200 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Enbridge by 185.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 297,230 shares of the pipeline company’s stock valued at $10,576,000 after purchasing an additional 192,975 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $44.87 on Friday. The company’s fifty day moving average is $42.89 and its two-hundred day moving average is $40.76. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $97.73 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business 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 period last year, the business earned $0.46 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 1.97 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 given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ENB shares. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge 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.