Tectonic Advisors LLC Acquires 23,654 Shares of Enbridge Inc. (NYSE:ENB)

Tectonic Advisors LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 263,948 shares of the pipeline company’s stock after buying an additional 23,654 shares during the period. Enbridge makes up about 0.7% of Tectonic Advisors LLC’s holdings, making the stock its 21st biggest holding. Tectonic Advisors LLC’s holdings in Enbridge were worth $11,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI raised its stake in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the period. JPMorgan Chase & Co. lifted its holdings in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after acquiring an additional 176,733 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE:ENB opened at $43.73 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $43.13 and a 200 day simple moving average of $41.32. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The stock has a market capitalization of $95.25 billion, a PE ratio of 20.24, a P/E/G ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of $63.00.

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.