Pacific Capital Wealth Advisors Inc. Invests $77,000 in Enbridge Inc. (NYSE:ENB)

Pacific Capital Wealth Advisors Inc. acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,148 shares of the pipeline company’s stock, valued at approximately $77,000.

Several other institutional investors have also bought and sold shares of ENB. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock valued at $54,578,000 after acquiring an additional 815,850 shares in the last quarter. S.E.E.D. Planning Group LLC increased its position in shares of Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares during the period. Clarius Group LLC raised its stake in shares of Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,617 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Enbridge by 5.7% in the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

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

Enbridge Stock Up 1.1 %

NYSE:ENB traded up $0.41 during trading hours on Wednesday, hitting $37.24. 5,838,031 shares of the stock traded hands, compared to its average volume of 5,799,036. The firm has a 50 day moving average price of $35.41 and a 200 day moving average price of $35.02. The firm has a market cap of $79.17 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.43 and a beta of 0.87. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.22. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.27%. Enbridge’s payout ratio is presently 127.14%.

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.