49 Wealth Management LLC bought a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,766 shares of the pipeline company's stock, valued at approximately $654,000.
Other institutional investors have also made changes to their positions in the company. Aviso Financial Inc. grew its position in Enbridge by 4.3% during the fourth 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 in the last quarter. 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 purchasing an additional 3,611,421 shares in the last quarter. Greenland Capital Management LP grew its position in Enbridge by 189.1% during the fourth quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock valued at $1,502,000 after purchasing an additional 23,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock valued at $19,431,000 after purchasing an additional 25,071 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Enbridge by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after purchasing an additional 1,135,000 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Up 0.1%
ENB stock traded up $0.03 during trading hours on Friday, hitting $44.52. The company's stock had a trading volume of 1,250,774 shares, compared to its average volume of 3,954,565. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $97.06 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79. Enbridge Inc has a 12 month low of $35.68 and a 12 month high of $47.44. The stock has a 50 day moving average price of $45.54 and a two-hundred day moving average price of $44.30.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio is currently 139.69%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on ENB shares. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $67.00.
Read Our Latest Analysis on Enbridge
About Enbridge
(
Free Report)
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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