Kayne Anderson Capital Advisors LP Cuts Stock Holdings in Enbridge Inc (NYSE:ENB)

Kayne Anderson Capital Advisors LP trimmed its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 23.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,937,480 shares of the pipeline company's stock after selling 889,385 shares during the period. Enbridge makes up 2.9% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 12th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.13% of Enbridge worth $130,160,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ENB. Garde Capital Inc. bought a new position in Enbridge in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the first quarter worth $28,000. GeoWealth Management LLC increased its position in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the period. Wolff Wiese Magana LLC increased its position in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of Enbridge in the fourth quarter valued at about $39,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Enbridge stock traded up $0.08 during midday trading on Thursday, reaching $45.56. 1,471,924 shares of the company traded hands, compared to its average volume of 4,004,566. Enbridge Inc has a 12 month low of $36.32 and a 12 month high of $47.44. The firm has a market capitalization of $99.33 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 4.24 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The business has a 50 day moving average of $45.40 and a two-hundred day moving average of $44.48.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its 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 during the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.96%. Enbridge's dividend payout ratio is 139.69%.

Analyst Ratings Changes

Several brokerages recently issued reports on ENB. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.