Enbridge Inc (NYSE:ENB) Position Cut by Columbus Macro LLC

Columbus Macro LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,626 shares of the pipeline company's stock after selling 16,003 shares during the quarter. Enbridge makes up 1.5% of Columbus Macro LLC's portfolio, making the stock its 8th biggest position. Columbus Macro LLC's holdings in Enbridge were worth $11,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Wintrust Investments LLC increased its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the 4th quarter worth approximately $39,000. Hopwood Financial Services Inc. purchased a new position in Enbridge during the fourth quarter valued at $42,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Enbridge by 731.7% in the first quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company's stock worth $45,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.98 during mid-day trading on Thursday, reaching $44.99. 4,810,318 shares of the company traded hands, compared to its average volume of 3,991,846. The company's 50 day moving average price is $45.70 and its 200-day moving average price is $44.03. The firm has a market cap of $98.10 billion, a PE ratio of 23.19, a PEG ratio of 4.33 and a beta of 0.81. Enbridge Inc has a 52 week low of $34.60 and a 52 week high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted 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. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same period last year, the firm earned $0.92 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal 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 given a dividend of $0.679 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 6.04%. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

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.