Enbridge Inc. (NYSE:ENB) Shares Bought by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,198 shares of the pipeline company’s stock after acquiring an additional 2,563 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Enbridge were worth $1,239,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. increased its stake in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc increased its position in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after buying an additional 827,540 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Enbridge by 3.6% during the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after acquiring an additional 644,526 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.49 on Friday, reaching $43.53. 878,156 shares of the stock were exchanged, compared to its average volume of 2,439,177. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13. The business has a fifty day moving average price of $42.45 and a two-hundred day moving average price of $40.17. The firm has a market capitalization of $94.82 billion, a PE ratio of 20.15, a PEG ratio of 4.14 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.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm earned $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.16%. Enbridge’s dividend payout ratio is presently 124.07%.

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.