Doheny Asset Management CA Increases Stock Position in Enbridge Inc. (NYSE:ENB)

Doheny Asset Management CA grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 662.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,541 shares of the pipeline company’s stock after buying an additional 45,653 shares during the period. Enbridge accounts for approximately 1.9% of Doheny Asset Management CA’s holdings, making the stock its 19th biggest holding. Doheny Asset Management CA’s holdings in Enbridge were worth $1,893,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Enbridge by 2.2% during the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after acquiring an additional 664,057 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Enbridge by 5.1% during the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after acquiring an additional 1,353,753 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Enbridge by 13.9% during the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after acquiring an additional 2,756,079 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ENB shares. Stifel Nicolaus started coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Stock Up 2.1 %

ENB stock traded up $0.76 during trading on Thursday, reaching $36.35. The stock had a trading volume of 2,411,141 shares, compared to its average volume of 5,819,802. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $77.28 billion, a P/E ratio of 16.95, a PEG ratio of 3.36 and a beta of 0.83. The firm has a fifty day moving average price of $35.26 and a 200 day moving average price of $34.88.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, equities analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.45%. Enbridge’s dividend payout ratio is 129.05%.

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.