Fiduciary Group LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Fiduciary Group LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,239 shares of the pipeline company’s stock, valued at approximately $297,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. TD Asset Management Inc raised its holdings in shares of Enbridge by 2.2% during the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Enbridge by 5.1% during the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after buying an additional 1,353,753 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Enbridge by 13.9% in the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after buying an additional 2,756,079 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE:ENB opened at $35.97 on Tuesday. 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 business’s 50-day moving average price is $35.22 and its 200 day moving average price is $34.85. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30. The firm has a market cap of $76.46 billion, a P/E ratio of 17.13, a PEG ratio of 3.39 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. As a group, sell-side analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.53%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 129.05%.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Stifel Nicolaus assumed coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.20.

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.