Brown Lisle Cummings Inc. reduced its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 32.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,626 shares of the pipeline company's stock after selling 10,683 shares during the quarter. Brown Lisle Cummings Inc.'s holdings in Enbridge were worth $1,003,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock valued at $1,526,000 after buying an additional 226 shares in the last quarter. Wintrust Investments LLC lifted its stake in Enbridge by 47.8% in the 4th 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. Knuff & Co LLC lifted its stake in Enbridge by 12.6% in the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock valued at $96,000 after buying an additional 252 shares in the last quarter. Hardin Capital Partners LLC lifted its stake in Enbridge by 2.7% in the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock valued at $423,000 after buying an additional 252 shares in the last quarter. Finally, Investors Research Corp lifted its stake in Enbridge by 9.5% in the 1st quarter. Investors Research Corp now owns 3,051 shares of the pipeline company's stock valued at $135,000 after buying an additional 264 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Down 0.6%
ENB stock opened at $44.71 on Monday. Enbridge Inc has a one year low of $34.68 and a one year high of $47.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm's 50 day moving average price is $45.80 and its 200-day moving average price is $44.06. The firm has a market cap of $97.47 billion, a PE ratio of 23.04, a PEG ratio of 4.22 and a beta of 0.81.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during 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 previous year, the firm posted $0.92 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.
Enbridge Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 6.08%. 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%.
Analyst Upgrades and Downgrades
ENB has been the topic of a number of research reports. 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. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $67.00.
Read Our Latest Stock Report on ENB
About Enbridge
(
Free Report)
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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