Aptus Capital Advisors LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Aptus Capital Advisors LLC purchased a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,894 shares of the pipeline company's stock, valued at approximately $420,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC increased its stake in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after buying an additional 1,495,742 shares during the period. TD Asset Management Inc. raised its position in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Norges Bank purchased a new stake in shares of Enbridge during the fourth quarter valued at about $909,415,000. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 1.1% during 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 in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE ENB traded up $0.32 during trading hours on Friday, reaching $46.10. The company's stock had a trading volume of 4,541,922 shares, compared to its average volume of 4,149,809. 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 stock has a market cap of $100.50 billion, a PE ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08. The business has a 50-day simple moving average of $44.24 and a 200 day simple moving average of $43.30.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the business posted $0.92 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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 paid a $0.679 dividend. This represents a $2.72 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is presently 157.56%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada raised their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Three 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.00.

About Enbridge

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.