Kestra Private Wealth Services LLC Acquires 13,677 Shares of Enbridge Inc. (NYSE:ENB)

Kestra Private Wealth Services LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 33.8% in the fourth quarter, HoldingsChannel reports. The firm owned 54,128 shares of the pipeline company’s stock after purchasing an additional 13,677 shares during the period. Kestra Private Wealth Services LLC’s holdings in Enbridge were worth $2,297,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 valued at $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. National Bank of Canada FI raised its position 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 period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enbridge by 55.2% in the 3rd 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 in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB opened at $45.29 on Wednesday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $98.65 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The firm’s fifty day moving average price is $43.23 and its two-hundred day moving average price is $41.54.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities began 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. Finally, Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.