Sanctuary Advisors LLC Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Sanctuary Advisors LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,840 shares of the pipeline company’s stock after buying an additional 28,674 shares during the period. Sanctuary Advisors LLC’s holdings in Enbridge were worth $9,105,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. apricus wealth LLC grew its stake in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after buying an additional 220 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after buying an additional 227 shares during the period. Armstrong Advisory Group Inc. grew its stake in shares of Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC grew its stake in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after buying an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after buying an additional 242 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research analyst reports. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $42.70 on Wednesday. The firm has a market cap of $93.05 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average is $43.35 and its two-hundred day moving average is $41.80.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the business earned $0.64 EPS. On average, 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 issued 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 yield of 6.28%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.