Corps Capital Advisors LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Corps Capital Advisors LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 31,819 shares of the pipeline company’s stock, valued at approximately $1,350,000. Enbridge accounts for about 1.4% of Corps Capital Advisors LLC’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank raised its holdings in Enbridge by 3.2% in the 3rd 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Enbridge by 70.7% in 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 purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares in the last quarter. Sound Income Strategies LLC lifted its position in 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 purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc grew its stake in 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 in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENB. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Price Performance

ENB stock opened at $42.31 on Thursday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market cap of $92.20 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 4.02 and a beta of 0.94. The company has a 50 day simple moving average of $43.35 and a 200 day simple moving average of $41.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.15% and a net margin of 10.04%. During the same period in the prior year, the company earned $0.64 EPS. Research analysts anticipate that Enbridge Inc. will post 2.15 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company 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. This represents a $2.68 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 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.