Bank of New York Mellon Corp Buys 51,158 Shares of Enbridge Inc (NYSE:ENB)

Bank of New York Mellon Corp lifted its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,207,519 shares of the pipeline company's stock after buying an additional 51,158 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of Enbridge worth $230,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aviso Financial Inc. increased its position in shares of 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 buying an additional 58,176 shares during the period. Vanguard Group Inc. increased its position in shares of 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. Greenland Capital Management LP increased its position in shares of 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 buying an additional 23,160 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 buying an additional 25,071 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of 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 buying an additional 1,135,000 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ENB shares. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Stock Up 0.1%

Shares of NYSE ENB traded up $0.04 during midday trading on Friday, hitting $44.53. The stock had a trading volume of 4,989,470 shares, compared to its average volume of 3,968,477. The business's 50 day moving average is $45.54 and its 200-day moving average is $44.30. The company has a market cap of $97.09 billion, a P/E ratio of 22.95, a PEG ratio of 4.19 and a beta of 0.79. Enbridge Inc has a 52 week low of $35.68 and a 52 week high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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. The firm had revenue of $7.27 billion for 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 quarter in the prior year, the firm posted $0.92 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. 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. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 140.21%.

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.