Beacon Pointe Advisors LLC Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Beacon Pointe Advisors LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,024 shares of the pipeline company’s stock after acquiring an additional 13,205 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Enbridge were worth $13,621,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC bought a new stake in Enbridge during the 4th quarter valued at $214,000. Boothbay Fund Management LLC increased its position in Enbridge by 50.1% during the 4th quarter. Boothbay Fund Management LLC now owns 89,020 shares of the pipeline company’s stock valued at $3,777,000 after buying an additional 29,712 shares in the last quarter. Voya Financial Advisors Inc. increased its position in Enbridge by 1.4% during the 4th quarter. Voya Financial Advisors Inc. now owns 36,942 shares of the pipeline company’s stock valued at $1,556,000 after buying an additional 503 shares in the last quarter. Topsail Wealth Management LLC acquired a new position in Enbridge during the 4th quarter valued at about $295,000. Finally, Hancock Whitney Corp acquired a new position in Enbridge during the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $46.63 on Tuesday. The company has a market cap of $101.66 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $46.70. The company’s 50 day moving average is $43.42 and its 200 day moving average is $43.02. 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 issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company earned $0.64 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.82%. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

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.