Lester Murray Antman dba SimplyRich Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Lester Murray Antman dba SimplyRich increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,842 shares of the pipeline company’s stock after purchasing an additional 545 shares during the quarter. Lester Murray Antman dba SimplyRich’s holdings in Enbridge were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Swiss National Bank increased its position in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC lifted its stake 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 last quarter. Finally, Pinnacle Financial Partners Inc boosted its position 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 valued at $7,650,000 after buying an additional 15,207 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ENB. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 1.1 %

Shares of NYSE ENB opened at $45.29 on Wednesday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The firm has a market capitalization of $98.65 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94. The stock has a 50 day moving average price of $43.23 and a 200 day moving average price of $41.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 5.92%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

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.