Hartline Investment Corp Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Hartline Investment Corp boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.6% during the fourth quarter, Holdings Channel reports. The firm owned 27,488 shares of the pipeline company’s stock after acquiring an additional 1,453 shares during the quarter. Hartline Investment Corp’s holdings in Enbridge were worth $1,166,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in 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 worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI raised its holdings in 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 worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8 %

ENB opened at $44.80 on Tuesday. 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 market cap of $97.60 billion, a P/E ratio of 20.74, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The stock has a 50-day moving average of $43.20 and a 200 day moving average of $41.48.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 5.98%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada reiterated 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. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

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.