Cidel Asset Management Inc. Sells 7,524 Shares of Enbridge Inc (NYSE:ENB)

Cidel Asset Management Inc. decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 12.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,966 shares of the pipeline company's stock after selling 7,524 shares during the quarter. Cidel Asset Management Inc.'s holdings in Enbridge were worth $2,300,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at about $261,000. QRG Capital Management Inc. bought a new position in Enbridge in the fourth quarter valued at approximately $319,000. Private Trust Co. NA increased its position in shares of Enbridge by 5.5% during the 4th quarter. Private Trust Co. NA now owns 9,415 shares of the pipeline company's stock worth $399,000 after purchasing an additional 488 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Enbridge during the 4th quarter worth approximately $280,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $239,000. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of several analyst reports. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.11 on Wednesday, hitting $44.81. The company had a trading volume of 4,228,717 shares, compared to its average volume of 3,951,337. The stock has a market cap of $97.70 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 4.23 and a beta of 0.79. The stock has a 50 day moving average price of $45.81 and a 200 day moving average price of $44.17. Enbridge Inc has a 1-year low of $35.10 and a 1-year high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced 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 business had revenue of $7.27 billion for the quarter, compared to analyst estimates 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 prior year, the business earned $0.92 EPS. Analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.06%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is 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.