LGT Group Foundation Has $11.05 Million Stock Position in Enbridge Inc. (NYSE:ENB)

LGT Group Foundation increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,660 shares of the pipeline company’s stock after purchasing an additional 1,240 shares during the quarter. LGT Group Foundation’s holdings in Enbridge were worth $11,049,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge during the 4th quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth about $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in shares of Enbridge during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Up 2.4 %

Shares of NYSE:ENB opened at $42.73 on Monday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a 50 day moving average of $43.42 and a 200-day moving average of $42.01. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $93.11 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.64 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s dividend payout ratio is 155.81%.

Enbridge 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.