Bank of New York Mellon Corp Grows Position in Enbridge Inc (NYSE:ENB)

Bank of New York Mellon Corp raised its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,207,519 shares of the pipeline company's stock after acquiring an additional 51,158 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.24% of Enbridge worth $230,745,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Garde Capital Inc. acquired a new position in Enbridge in the first quarter valued at approximately $26,000. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares in the last quarter. Wolff Wiese Magana LLC increased its position in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after buying an additional 365 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $39,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENB. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Trading Down 0.3%

NYSE ENB traded down $0.14 on Friday, reaching $44.35. 432,949 shares of the company were exchanged, compared to its average volume of 3,950,817. The business's fifty day moving average price is $45.54 and its 200 day moving average price is $44.30. The stock has a market capitalization of $96.70 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. Enbridge Inc has a fifty-two week low of $35.68 and a fifty-two week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the company posted $0.92 earnings per share. Analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued 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 dividend on an annualized basis and a dividend yield of 6.12%. Enbridge's dividend payout ratio is currently 139.69%.

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.