EP Wealth Advisors LLC Purchases 1,587 Shares of Enbridge Inc. (NYSE:ENB)

EP Wealth Advisors LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,561 shares of the pipeline company’s stock after acquiring an additional 1,587 shares during the period. EP Wealth Advisors LLC’s holdings in Enbridge were worth $416,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its stake in shares of Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after acquiring an additional 280 shares during the last quarter. North Star Investment Management Corp. raised its position in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the last quarter. Capital Investment Counsel Inc raised its position in Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in Enbridge by 1.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock worth $646,000 after purchasing an additional 340 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC raised its position in Enbridge by 2.3% during the 3rd quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock worth $518,000 after purchasing an additional 350 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $34.80 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $35.84 and a two-hundred day moving average price of $35.63. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a market cap of $73.99 billion, a P/E ratio of 17.66, a PEG ratio of 3.29 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. As a group, analysts anticipate that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

Analyst Ratings Changes

Separately, Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.20.

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.