Foresight Capital Management Advisors Inc. Buys 4,754 Shares of Enbridge Inc. (NYSE:ENB)

Foresight Capital Management Advisors Inc. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,389 shares of the pipeline company’s stock after acquiring an additional 4,754 shares during the quarter. Enbridge accounts for about 1.9% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 21st largest position. Foresight Capital Management Advisors Inc.’s holdings in Enbridge were worth $3,241,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC purchased a new stake in Enbridge in the second quarter worth approximately $240,000. J.W. Cole Advisors Inc. boosted its stake in shares of Enbridge by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock valued at $480,000 after purchasing an additional 488 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Enbridge by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after purchasing an additional 25,717 shares during the last quarter. Argent Trust Co boosted its position in Enbridge by 0.3% during the second quarter. Argent Trust Co now owns 101,559 shares of the pipeline company’s stock valued at $3,614,000 after buying an additional 343 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Enbridge by 4.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock valued at $3,272,000 after acquiring an additional 3,894 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB opened at $44.36 on Thursday. The firm has a market cap of $96.63 billion, a P/E ratio of 20.54, a PEG ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.74. The company has a 50 day simple moving average of $42.62 and a two-hundred day simple moving average of $40.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 dividend yield of 6.04%. Enbridge’s dividend payout ratio is 121.76%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENB. TD Securities began coverage on shares of Enbridge in a research note on Wednesday. They issued a “buy” rating on the stock. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price 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.