Crossmark Global Holdings Inc. Has $3.17 Million Holdings in Enbridge Inc. (NYSE:ENB)

Crossmark Global Holdings Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,580 shares of the pipeline company’s stock after acquiring an additional 5,440 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Enbridge were worth $3,165,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ENB. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the second quarter worth approximately $28,000. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust grew its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

Shares of ENB stock opened at $44.77 on Thursday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a market capitalization of $97.53 billion, a P/E ratio of 20.73, a P/E/G ratio of 4.13 and a beta of 0.93. The stock has a 50 day moving average of $42.85 and a two-hundred day moving average of $40.73. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the business earned $0.46 earnings per share. As a group, equities analysts expect that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.99%. Enbridge’s payout ratio is currently 121.76%.

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.