Dividend Assets Capital LLC Acquires 10,757 Shares of Enbridge Inc. (NYSE:ENB)

Dividend Assets Capital LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,634 shares of the pipeline company's stock after purchasing an additional 10,757 shares during the quarter. Enbridge makes up 1.7% of Dividend Assets Capital LLC's portfolio, making the stock its 22nd largest holding. Dividend Assets Capital LLC's holdings in Enbridge were worth $9,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Enbridge in the fourth quarter valued at $261,000. Golden State Wealth Management LLC acquired a new stake in shares of Enbridge in the 4th quarter worth about $103,000. Apollon Wealth Management LLC lifted its position in Enbridge by 10.8% in the 4th quarter. Apollon Wealth Management LLC now owns 63,025 shares of the pipeline company's stock valued at $2,674,000 after purchasing an additional 6,132 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Enbridge by 33.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 54,128 shares of the pipeline company's stock valued at $2,297,000 after purchasing an additional 13,677 shares during the period. Finally, Wealthstar Advisors LLC bought a new position in Enbridge in the 4th quarter worth about $677,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Six research 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 has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Stock Down 0.2%

Enbridge stock traded down $0.11 during mid-day trading on Wednesday, hitting $45.74. 718,417 shares of the company's stock were exchanged, compared to its average volume of 4,015,412. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.44. The stock has a 50 day moving average of $45.19 and a two-hundred day moving average of $43.91. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $99.72 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results 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 10.04% and a return on equity of 10.16%. 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 business posted $0.92 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.94%. Enbridge's dividend payout ratio is 139.69%.

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.