FLC Capital Advisors Increases Position in Enbridge Inc. (NYSE:ENB)

FLC Capital Advisors lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,594 shares of the pipeline company’s stock after purchasing an additional 6,288 shares during the period. FLC Capital Advisors’ holdings in Enbridge were worth $3,923,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ENB. Integrated Advisors Network LLC raised its stake in Enbridge by 12.6% during the fourth quarter. Integrated Advisors Network LLC now owns 8,711 shares of the pipeline company’s stock worth $314,000 after purchasing an additional 973 shares during the period. Syon Capital LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $208,000. EP Wealth Advisors LLC grew its position in Enbridge by 15.9% in the fourth quarter. EP Wealth Advisors LLC now owns 11,561 shares of the pipeline company’s stock worth $416,000 after acquiring an additional 1,587 shares during the period. Fisher Asset Management LLC increased its stake in Enbridge by 18.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,021 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 1,561 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in Enbridge in the fourth quarter valued at $346,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $41.82 on Thursday. The stock has a market capitalization of $89.24 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $41.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The business has a 50-day moving average of $40.25 and a 200 day moving average of $37.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.40%. Enbridge’s payout ratio is 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $51.50.

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.