Total Clarity Wealth Management Inc. Has $1.52 Million Holdings in Enbridge Inc. (NYSE:ENB)

Total Clarity Wealth Management Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,926 shares of the pipeline company’s stock after buying an additional 254 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Enbridge were worth $1,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc increased its holdings in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI increased its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Down 2.7 %

Shares of Enbridge stock opened at $43.29 on Friday. The stock has a market capitalization of $94.31 billion, a P/E ratio of 20.04, a PEG ratio of 4.11 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a 50 day moving average price of $43.11 and a two-hundred day moving average price of $41.10. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.19%. Enbridge’s payout ratio is currently 121.76%.

About Enbridge

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.