Dupree Financial Group LLC Has $18.10 Million Stock Position in Enbridge Inc (NYSE:ENB)

Dupree Financial Group LLC reduced its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 19.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 408,485 shares of the pipeline company's stock after selling 95,896 shares during the period. Enbridge makes up about 7.4% of Dupree Financial Group LLC's investment portfolio, making the stock its 2nd biggest position. Dupree Financial Group LLC's holdings in Enbridge were worth $18,100,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ENB. Norges Bank acquired a new stake in Enbridge in the fourth quarter worth $909,415,000. Arrowstreet Capital Limited Partnership grew its position in Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares in the last quarter. Blackstone Inc. grew its position in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares during the period. Deutsche Bank AG lifted its stake in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 1.4%

ENB stock traded down $0.61 during trading on Monday, reaching $44.13. The stock had a trading volume of 3,691,576 shares, compared to its average volume of 3,952,253. Enbridge Inc has a one year low of $35.10 and a one year high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The company's 50 day moving average is $45.73 and its two-hundred day moving average is $44.27. The company has a market capitalization of $96.22 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.22 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (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 during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the prior year, the firm posted $0.92 EPS. Equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.15%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge's dividend payout ratio is presently 140.21%.

Analyst Ratings Changes

Several equities analysts have recently commented on ENB shares. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Company 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.