Versor Investments LP Acquires 8,902 Shares of Enbridge Inc. (NYSE:ENB)

Versor Investments LP increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 96.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,102 shares of the pipeline company’s stock after purchasing an additional 8,902 shares during the quarter. Versor Investments LP’s holdings in Enbridge were worth $768,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ENB. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third 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 position in shares of Enbridge during the fourth quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Enbridge during the third quarter worth $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% during the fourth 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 position in shares of Enbridge during the fourth quarter worth $42,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of ENB opened at $42.73 on Friday. The firm has a market capitalization of $93.11 billion, a PE ratio of 24.84, 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 Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company’s fifty day moving average price is $43.42 and its 200-day moving average price is $41.98.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the company earned $0.64 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.