Checchi Capital Advisers LLC Acquires 922 Shares of Enbridge Inc. (NYSE:ENB)

Checchi Capital Advisers LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,834 shares of the pipeline company’s stock after purchasing an additional 922 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Enbridge were worth $502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank raised its stake in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Enbridge by 70.7% during 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 buying an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after buying an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its stake in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 0.3 %

Shares of NYSE:ENB opened at $41.78 on Thursday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. 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 company has a market capitalization of $91.04 billion, a PE ratio of 24.29, a PEG ratio of 3.92 and a beta of 0.94. The company has a 50 day moving average price of $43.38 and a two-hundred day moving average price of $41.95.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current 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. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.