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

Bank of New York Mellon Corp grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 about 0.24% of Enbridge worth $230,745,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Capital Investment Counsel Inc boosted its position in Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after buying an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Enbridge by 0.7% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after acquiring an additional 226 shares during the last quarter. Wintrust Investments LLC boosted its holdings in 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 acquiring an additional 238 shares during the last quarter. Knuff & Co LLC boosted its holdings in Enbridge by 12.6% in the fourth quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 252 shares during the last quarter. Finally, Hardin Capital Partners LLC increased its position in Enbridge by 2.7% in the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.9%

Shares of NYSE:ENB traded down $0.39 during midday trading on Wednesday, reaching $43.81. 2,811,918 shares of the company were exchanged, compared to its average volume of 3,952,842. The firm has a market cap of $95.52 billion, a PE ratio of 22.58, a P/E/G ratio of 4.16 and a beta of 0.79. Enbridge Inc has a fifty-two week low of $35.34 and a fifty-two week high of $47.44. The stock has a fifty day simple moving average of $45.63 and a two-hundred day simple moving average of $44.29. 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 released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.41% and a net margin of 10.16%. During the same quarter last year, the business posted $0.92 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.20%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is 140.21%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.00.

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.