Code Waechter LLC Sells 8,168 Shares of Enbridge Inc (NYSE:ENB)

Code Waechter LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 21.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 30,111 shares of the pipeline company's stock after selling 8,168 shares during the period. Enbridge makes up approximately 1.1% of Code Waechter LLC's holdings, making the stock its 19th largest position. Code Waechter LLC's holdings in Enbridge were worth $1,334,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ENB. Aviso Financial Inc. grew its holdings in shares of Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock worth $60,152,000 after purchasing an additional 58,176 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. Greenland Capital Management LP grew its position in Enbridge by 189.1% during the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock worth $1,502,000 after acquiring an additional 23,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock valued at $19,431,000 after purchasing an additional 25,071 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Enbridge by 20.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after buying an additional 1,135,000 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 0.2%

Enbridge stock traded up $0.08 during mid-day trading on Friday, reaching $44.57. The company's stock had a trading volume of 2,975,225 shares, compared to its average volume of 3,960,955. 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 Inc has a 12 month low of $35.68 and a 12 month high of $47.44. The business's 50 day simple moving average is $45.54 and its 200 day simple moving average is $44.30. The company has a market capitalization of $97.17 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $0.92 EPS. As a group, research analysts anticipate 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. Shareholders 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 6.09%. The ex-dividend date was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ENB shares. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets restated a "market 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, Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge 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.