Cresset Asset Management LLC Decreases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Cresset Asset Management LLC decreased its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,722 shares of the pipeline company's stock after selling 38,933 shares during the period. Cresset Asset Management LLC's holdings in Enbridge were worth $2,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Metis Global Partners LLC grew its holdings in shares of Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after acquiring an additional 7,986 shares during the period. Aviso Financial Inc. increased its position in shares of Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock valued at $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after purchasing an additional 536,818 shares during the period. Vanguard Group Inc. grew its position 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 buying an additional 3,611,421 shares during the period. Finally, Sound Income Strategies LLC raised its position in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after acquiring an additional 49,800 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ENB shares. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Raymond James upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $46.10 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08. The business has a 50 day simple moving average of $44.24 and a two-hundred day simple moving average of $43.30. The stock has a market capitalization of $100.50 billion, a PE ratio of 26.80, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 157.56%.

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.

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