Lake Street Advisors Group LLC Has $2.28 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Lake Street Advisors Group LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 286.5% in the fourth quarter, HoldingsChannel reports. The firm owned 53,729 shares of the pipeline company’s stock after purchasing an additional 39,827 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Enbridge were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Investment Advisors Ltd. bought a new stake in shares of Enbridge during the fourth quarter worth approximately $399,000. FourThought Financial Partners LLC acquired a new stake in Enbridge during the 4th quarter worth approximately $323,000. Bank of New York Mellon Corp lifted its holdings in Enbridge by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 5,156,361 shares of the pipeline company’s stock worth $218,784,000 after purchasing an additional 327,707 shares during the last quarter. BankPlus Trust Department bought a new stake in Enbridge in the 4th quarter valued at $1,693,000. Finally, Edge Capital Group LLC grew its holdings in Enbridge by 13.1% in the 4th quarter. Edge Capital Group LLC now owns 45,396 shares of the pipeline company’s stock valued at $1,926,000 after buying an additional 5,275 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $41.65 on Wednesday. The firm has a market cap of $90.75 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock’s fifty day moving average price is $43.35 and its two-hundred day moving average price is $41.96. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business earned $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 155.81%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Company 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.