EP Wealth Advisors LLC Purchases 1,709 Shares of Enbridge Inc. (NYSE:ENB)

EP Wealth Advisors LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,399 shares of the pipeline company’s stock after purchasing an additional 1,709 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enbridge were worth $1,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Metis Global Partners LLC boosted its stake in shares of Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after acquiring an additional 7,986 shares in the last quarter. Aviso Financial Inc. raised its position in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after purchasing an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after buying an additional 536,818 shares during the last quarter. Vanguard Group Inc. raised its holdings in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $46.10 on Friday. The firm has a market capitalization of $100.50 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The business has a fifty day simple moving average of $44.24 and a 200 day simple moving average of $43.30. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.89%. Enbridge’s payout ratio is currently 157.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $67.00.

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.