Sabal Trust CO Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Sabal Trust CO lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,744 shares of the pipeline company’s stock after purchasing an additional 800 shares during the quarter. Sabal Trust CO’s holdings in Enbridge were worth $626,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.78 on Thursday. The business’s fifty day moving average price is $43.38 and its 200 day moving average price is $41.95. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market capitalization of $91.04 billion, a PE ratio of 24.29, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company 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 $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 155.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.00.

About Enbridge

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.