Woodstock Corp Acquires 1,150 Shares of Enbridge Inc. (NYSE:ENB)

Woodstock Corp raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 48,052 shares of the pipeline company’s stock after purchasing an additional 1,150 shares during the quarter. Woodstock Corp’s holdings in Enbridge were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the third 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. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after acquiring an additional 644,526 shares during the period. National Bank of Canada FI grew its holdings in shares of Enbridge by 12.8% during the 3rd 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENB. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a research note on Wednesday. They set a “buy” rating for the company. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Down 0.8 %

Shares of NYSE:ENB opened at $43.98 on Friday. 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 Inc. has a 52-week low of $32.85 and a 52-week high of $44.74. The company has a market capitalization of $95.79 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a fifty day moving average of $42.68 and a 200-day moving average of $40.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm 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 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 6.09%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.