Advisor Resource Council acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,400 shares of the pipeline company's stock, valued at approximately $727,000.
A number of other institutional investors have also recently modified their holdings of the business. Metis Global Partners LLC lifted its position in shares of Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock valued at $8,782,000 after acquiring an additional 7,986 shares during the period. Aviso Financial Inc. grew its position in shares of Enbridge by 4.3% in 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 during the last quarter. Vanguard Group Inc. grew its position in shares of Enbridge by 4.1% in 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 during the last quarter. Greenland Capital Management LP increased its stake in shares of Enbridge by 189.1% during the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock worth $1,502,000 after purchasing an additional 23,160 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after purchasing an additional 25,071 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on ENB shares. Citigroup began coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Enbridge currently has an average rating of "Hold" and a consensus target price of $67.00.
Check Out Our Latest Stock Report on Enbridge
Enbridge Trading Down 1.2%
NYSE ENB traded down $0.53 during trading hours on Wednesday, hitting $44.51. 3,699,015 shares of the company's stock were exchanged, compared to its average volume of 3,961,475. The business's 50 day moving average is $45.83 and its 200-day moving average is $44.07. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. Enbridge Inc has a 12-month low of $34.71 and a 12-month high of $47.44. The firm has a market capitalization of $97.05 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 4.24 and a beta of 0.81.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same period last year, the company earned $0.92 earnings per share. As a group, analysts anticipate 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 was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.10%. Enbridge's payout ratio is currently 140.21%.
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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