Fifth Third Bancorp Purchases 89,066 Shares of Enbridge Inc. (NYSE:ENB)

Fifth Third Bancorp raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 143.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,317 shares of the pipeline company's stock after purchasing an additional 89,066 shares during the quarter. Fifth Third Bancorp's holdings in Enbridge were worth $6,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. lifted its holdings in shares of Enbridge by 2.6% during the first quarter. Focus Financial Network Inc. now owns 17,422 shares of the pipeline company's stock worth $772,000 after buying an additional 434 shares in the last quarter. InTrack Investment Management Inc acquired a new stake in shares of Enbridge during the first quarter worth $591,000. Donaldson Capital Management LLC lifted its holdings in shares of Enbridge by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 30,139 shares of the pipeline company's stock worth $1,335,000 after buying an additional 1,510 shares in the last quarter. Foresight Capital Management Advisors Inc. lifted its holdings in shares of Enbridge by 1.6% during the first quarter. Foresight Capital Management Advisors Inc. now owns 77,637 shares of the pipeline company's stock worth $3,440,000 after buying an additional 1,248 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Enbridge during the first quarter worth $85,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

Shares of NYSE ENB traded down $0.18 during mid-day trading on Friday, reaching $46.63. The company had a trading volume of 3,064,061 shares, compared to its average volume of 4,013,264. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44. The firm has a market cap of $101.66 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.92 and a beta of 0.81. The business's 50-day simple moving average is $45.45 and its 200 day simple moving average is $43.98.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released 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 return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced 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 5.82%. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.