Brookstone Capital Management Has $2.23 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Brookstone Capital Management raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 52,550 shares of the pipeline company’s stock after buying an additional 3,759 shares during the period. Brookstone Capital Management’s holdings in Enbridge were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after purchasing an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC increased its position in shares of Enbridge by 4,120.0% in the third 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its position 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 purchasing an additional 2,668,692 shares during the period. National Bank of Canada FI increased its position in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

Shares of ENB stock opened at $44.36 on Thursday. The business’s 50-day moving average price is $42.62 and its 200-day moving average price is $40.42. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.74. The firm has a market capitalization of $96.63 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 4.14 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

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.