Enbridge Inc. (NYSE:ENB) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lessened its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,712 shares of the pipeline company's stock after selling 7,853 shares during the period. Enbridge makes up about 1.1% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 23rd biggest holding. Alpha Omega Wealth Management LLC's holdings in Enbridge were worth $5,526,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. GQG Partners LLC raised its stake in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. Deutsche Bank AG increased its holdings in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the period. Finally, Norges Bank purchased a new position in Enbridge during the 4th quarter worth approximately $909,415,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

Shares of ENB stock traded up $0.72 during trading hours on Thursday, hitting $46.59. 1,425,233 shares of the company's stock were exchanged, compared to its average volume of 4,011,205. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a market cap of $101.57 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.44. The firm has a 50 day moving average of $45.24 and a two-hundred day moving average of $43.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company earned $0.92 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.83%. Enbridge's payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

ENB has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $67.00.

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.