Bartlett & CO. Wealth Management LLC Sells 9,026 Shares of Enbridge Inc (NYSE:ENB)

Bartlett & CO. Wealth Management LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,961 shares of the pipeline company's stock after selling 9,026 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Enbridge were worth $3,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Enbridge in the fourth quarter worth approximately $261,000. Wealthspire Advisors LLC boosted its holdings in Enbridge by 14.1% in the fourth quarter. Wealthspire Advisors LLC now owns 7,065 shares of the pipeline company's stock worth $300,000 after acquiring an additional 873 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Enbridge by 6.8% in the fourth quarter. Bank of New York Mellon Corp now owns 5,156,361 shares of the pipeline company's stock worth $218,784,000 after acquiring an additional 327,707 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Enbridge by 5.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 379,400 shares of the pipeline company's stock worth $16,095,000 after acquiring an additional 19,200 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in Enbridge by 4,864.0% in the fourth quarter. First Command Advisory Services Inc. now owns 1,241 shares of the pipeline company's stock worth $53,000 after acquiring an additional 1,216 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $44.75 on Friday. The company has a market cap of $97.58 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 4.25 and a beta of 0.81. Enbridge Inc has a 52 week low of $35.10 and a 52 week high of $47.44. The business has a 50 day moving average price of $45.82 and a 200-day moving average price of $44.11. 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 quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion during 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 period last year, the business posted $0.92 earnings per share. Equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.07%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENB. CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.

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