Enbridge Inc. (NYSE:ENB) Shares Purchased by White Pine Capital LLC

White Pine Capital LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,214 shares of the pipeline company’s stock after purchasing an additional 760 shares during the quarter. White Pine Capital LLC’s holdings in Enbridge were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Wellington Management Group LLP raised its position in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. Vanguard Group Inc. raised its position in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares during the period. Mackenzie Financial Corp increased its position in Enbridge by 13.9% in the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after acquiring an additional 2,756,079 shares during the period. Finally, CIBC Asset Management Inc increased its position in Enbridge by 11.3% in the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after acquiring an additional 2,101,021 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENB. Stifel Nicolaus began coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

NYSE ENB traded down $0.44 on Friday, reaching $35.82. 4,385,230 shares of the stock traded hands, compared to its average volume of 6,269,155. The company has a market cap of $76.15 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 3.36 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $34.82. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, research analysts predict that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

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.