Brown Lisle Cummings Inc. Has $1 Million Position in Enbridge Inc (NYSE:ENB)

Brown Lisle Cummings Inc. decreased its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 32.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,626 shares of the pipeline company's stock after selling 10,683 shares during the period. Brown Lisle Cummings Inc.'s holdings in Enbridge were worth $1,003,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ENB. TrueMark Investments LLC grew its stake in Enbridge by 10.7% in the 1st quarter. TrueMark Investments LLC now owns 205,556 shares of the pipeline company's stock valued at $9,108,000 after buying an additional 19,935 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Enbridge by 3.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 371,982 shares of the pipeline company's stock valued at $16,475,000 after purchasing an additional 10,807 shares during the last quarter. Wolff Wiese Magana LLC increased its stake 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 worth $34,000 after purchasing an additional 365 shares during the period. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth about $26,000. Finally, Stonegate Investment Group LLC lifted its position in shares of Enbridge by 13.4% during the 1st quarter. Stonegate Investment Group LLC now owns 40,619 shares of the pipeline company's stock worth $1,800,000 after purchasing an additional 4,787 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and an average price target of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.61 during trading hours on Thursday, reaching $45.09. The stock had a trading volume of 2,708,811 shares, compared to its average volume of 3,952,399. The company has a market cap of $98.30 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 4.19 and a beta of 0.81. Enbridge Inc has a twelve month low of $35.10 and a twelve month high of $47.44. The business's fifty day moving average is $45.83 and its two-hundred day moving average is $44.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.02%. Enbridge's dividend payout ratio (DPR) is currently 140.21%.

About Enbridge

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.