Patten Group Inc. Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Patten Group Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,190 shares of the pipeline company’s stock after acquiring an additional 483 shares during the quarter. Patten Group Inc.’s holdings in Enbridge were worth $1,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. apricus wealth LLC increased its stake in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares during the period. Armstrong Advisory Group Inc. raised its stake in shares of Enbridge by 3.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC raised its position in shares of Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Enbridge stock opened at $42.68 on Tuesday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The stock’s 50-day moving average is $43.44 and its 200-day moving average is $42.04. The company has a market cap of $93.00 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were given a $0.67 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.28%. Enbridge’s dividend payout ratio (DPR) is 155.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.00.

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.