26,478 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Ewing Morris & Co. Investment Partners Ltd.

Ewing Morris & Co. Investment Partners Ltd. bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,478 shares of the pipeline company’s stock, valued at approximately $1,123,000.

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

Enbridge Price Performance

NYSE ENB opened at $45.81 on Friday. The stock has a market capitalization of $99.86 billion, a P/E ratio of 26.63, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The business’s fifty day moving average is $44.15 and its two-hundred day moving average is $43.27. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 annualized dividend and a dividend yield of 5.93%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

Analysts Set New Price Targets

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