Capital Wealth Planning LLC Has $4.42 Million Holdings in Enbridge Inc. (NYSE:ENB)

Capital Wealth Planning LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 98.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 104,199 shares of the pipeline company’s stock after buying an additional 51,619 shares during the quarter. Capital Wealth Planning LLC’s holdings in Enbridge were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its stake in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. National Bank of Canada FI raised its stake 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 buying an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Enbridge by 27.8% in the 3rd 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 buying an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after buying an additional 985,546 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 2.4 %

Shares of NYSE ENB opened at $42.73 on Friday. The firm’s 50-day moving average is $43.42 and its 200-day moving average is $42.00. 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 $93.11 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ENB shares. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.