Callahan Advisors LLC Sells 11,339 Shares of Enbridge Inc (NYSE:ENB)

Callahan Advisors LLC lessened its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,972 shares of the pipeline company's stock after selling 11,339 shares during the quarter. Callahan Advisors LLC's holdings in Enbridge were worth $5,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Diversify Wealth Management LLC raised its position in Enbridge by 7.0% during the first quarter. Diversify Wealth Management LLC now owns 38,780 shares of the pipeline company's stock worth $1,809,000 after acquiring an additional 2,542 shares in the last quarter. Genus Capital Management Inc. bought a new stake in Enbridge during the first quarter worth $887,000. Cerity Partners LLC raised its position in Enbridge by 5.9% during the first quarter. Cerity Partners LLC now owns 229,873 shares of the pipeline company's stock worth $10,186,000 after acquiring an additional 12,758 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter worth $28,000. Finally, Alps Advisors Inc. raised its position in Enbridge by 40.1% during the first quarter. Alps Advisors Inc. now owns 17,994 shares of the pipeline company's stock worth $797,000 after acquiring an additional 5,147 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of several analyst reports. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating 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. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $44.51 on Friday. Enbridge Inc has a 52 week low of $35.68 and a 52 week high of $47.44. The firm has a market cap of $97.05 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 4.13 and a beta of 0.79. The firm's 50-day simple moving average is $45.54 and its 200 day simple moving average is $44.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping 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 business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the firm earned $0.92 earnings per share. As a group, sell-side analysts predict 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. 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 yield of 6.10%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

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.

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