Strategic Blueprint LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Strategic Blueprint LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,724 shares of the pipeline company’s stock after acquiring an additional 1,128 shares during the quarter. Strategic Blueprint LLC’s holdings in Enbridge were worth $667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its position 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 acquiring an additional 1,766 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Enbridge by 248.0% in the 2nd quarter. Squarepoint Ops LLC now owns 53,573 shares of the pipeline company’s stock valued at $1,907,000 after purchasing an additional 89,773 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth about $303,000. Northwestern Mutual Wealth Management Co. increased its position in Enbridge by 2.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 112,302 shares of the pipeline company’s stock worth $3,997,000 after purchasing an additional 2,415 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in Enbridge by 118.5% in the second quarter. EP Wealth Advisors LLC now owns 28,051 shares of the pipeline company’s stock valued at $998,000 after buying an additional 15,214 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $44.45 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market cap of $96.82 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 4.15 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $43.09 and a 200 day simple moving average of $41.08.

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 analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company earned $0.46 earnings per share. Equities research analysts expect that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.