Recurrent Investment Advisors LLC Purchases 5,882 Shares of Enbridge Inc. (NYSE:ENB)

Recurrent Investment Advisors LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 461,102 shares of the pipeline company’s stock after acquiring an additional 5,882 shares during the quarter. Enbridge accounts for 1.8% of Recurrent Investment Advisors LLC’s holdings, making the stock its 20th biggest holding. Recurrent Investment Advisors LLC’s holdings in Enbridge were worth $19,565,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its position in Enbridge by 8.3% in the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after acquiring an additional 44,675 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Enbridge by 7.7% during the fourth quarter. Brookstone Capital Management now owns 52,550 shares of the pipeline company’s stock valued at $2,230,000 after purchasing an additional 3,759 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Enbridge by 5.0% during the fourth quarter. Wedmont Private Capital now owns 6,082 shares of the pipeline company’s stock valued at $264,000 after buying an additional 292 shares during the last quarter. Finally, Eastern Bank increased its holdings in Enbridge by 10.6% in the 4th quarter. Eastern Bank now owns 7,757 shares of the pipeline company’s stock worth $329,000 after buying an additional 742 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.81 on Thursday. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08. The firm has a market capitalization of $97.69 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $44.39 and a 200 day moving average of $43.37.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company posted $0.92 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.06%. Enbridge’s payout ratio is 139.69%.

Analyst Ratings Changes

ENB has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 price target on shares of Enbridge in a report on Monday. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.