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

Baker Tilly Wealth Management LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.6% during the 4th quarter, Holdings Channel reports. The fund owned 29,198 shares of the pipeline company’s stock after acquiring an additional 2,563 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Enbridge were worth $1,239,000 at the end of the most recent reporting period.

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

Enbridge Trading Down 1.1 %

Shares of NYSE:ENB traded down $0.49 during trading 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 12-month low of $32.85 and a 12-month high of $44.13. The firm’s 50-day moving average price is $42.45 and its 200 day moving average price is $40.17. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market cap of $94.82 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. 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 payout ratio is currently 124.07%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has an average 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.