Metis Global Partners LLC Has $6.17 Million Holdings in Enbridge Inc. (NYSE:ENB)

Metis Global Partners LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,363 shares of the pipeline company’s stock after purchasing an additional 14,038 shares during the period. Metis Global Partners LLC’s holdings in Enbridge were worth $6,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sheets Smith Wealth Management grew its position in shares of Enbridge by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 10,657 shares of the pipeline company’s stock worth $384,000 after purchasing an additional 475 shares in the last quarter. Evergreen Wealth Management LLC grew its position in shares of Enbridge by 1.9% during the 4th quarter. Evergreen Wealth Management LLC now owns 22,513 shares of the pipeline company’s stock worth $811,000 after purchasing an additional 419 shares in the last quarter. National Bank of Canada FI grew its position in shares of Enbridge by 7.0% during the 4th quarter. National Bank of Canada FI now owns 19,461,625 shares of the pipeline company’s stock worth $706,471,000 after purchasing an additional 1,272,213 shares in the last quarter. Pointe Capital Management LLC acquired a new position in shares of Enbridge during the 4th quarter worth approximately $203,000. Finally, AJOVista LLC acquired a new position in shares of Enbridge during the 4th quarter worth approximately $446,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock traded down $0.08 on Friday, hitting $36.34. 4,208,004 shares of the company’s stock were exchanged, compared to its average volume of 7,166,785. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a 50 day moving average of $35.32 and a 200 day moving average of $34.95. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market cap of $77.26 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (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 research analysts predict that Enbridge Inc. will post 2.12 EPS 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 issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is presently 129.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.20.

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.