Wealthspire Advisors LLC Has $300,000 Holdings in Enbridge Inc. (NYSE:ENB)

Wealthspire Advisors LLC increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,065 shares of the pipeline company’s stock after purchasing an additional 873 shares during the period. Wealthspire Advisors LLC’s holdings in Enbridge were worth $300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Enbridge by 19.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock worth $3,054,000 after purchasing an additional 12,431 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $35,000. Nicholas Hoffman & Company LLC. increased its holdings in Enbridge by 46.7% in the third quarter. Nicholas Hoffman & Company LLC. now owns 9,837 shares of the pipeline company’s stock worth $399,000 after buying an additional 3,133 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Enbridge by 2.4% during the third quarter. First Trust Direct Indexing L.P. now owns 20,702 shares of the pipeline company’s stock valued at $841,000 after acquiring an additional 478 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Enbridge by 7.4% in the third quarter. Pinnacle Associates Ltd. now owns 91,532 shares of the pipeline company’s stock valued at $3,717,000 after acquiring an additional 6,293 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on Enbridge in a research report 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 report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $41.74 on Friday. The firm has a market capitalization of $90.94 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The business has a fifty day simple moving average of $43.40 and a 200 day simple moving average of $41.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm earned $0.64 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 155.81%.

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.