Capital Investment Counsel Inc Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Capital Investment Counsel Inc grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,564 shares of the pipeline company’s stock after buying an additional 326 shares during the period. Capital Investment Counsel Inc’s holdings in Enbridge were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Harbor Investment Advisory LLC boosted its stake in Enbridge by 5.2% in the fourth 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 in the last quarter. North Star Investment Management Corp. boosted its stake 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 period. First Citizens Bank & Trust Co. grew its position in Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares during the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after buying an additional 344 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its stake in shares of Enbridge by 2.3% during the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock worth $518,000 after buying an additional 350 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ENB shares. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.20.

Enbridge Trading Up 0.4 %

Shares of ENB stock opened at $35.97 on Tuesday. The business’s fifty day moving average price is $35.22 and its 200 day moving average price is $34.85. The firm has a market capitalization of $76.46 billion, a PE ratio of 17.13, a P/E/G ratio of 3.39 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.53%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 129.05%.

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.