Salem Investment Counselors Inc. boosted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 171.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,666 shares of the pipeline company's stock after purchasing an additional 101,444 shares during the period. Salem Investment Counselors Inc.'s holdings in Enbridge were worth $7,119,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Wintrust Investments LLC raised its position in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Enbridge by 2.0% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company's stock worth $541,000 after purchasing an additional 251 shares during the period. Knuff & Co LLC grew its stake in shares of Enbridge by 12.6% during the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after purchasing an additional 252 shares during the period. Hardin Capital Partners LLC grew its stake in shares of Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after purchasing an additional 252 shares during the period. Finally, Focus Financial Network Inc. grew its stake in Enbridge by 1.6% in the 4th quarter. Focus Financial Network Inc. now owns 16,988 shares of the pipeline company's stock valued at $721,000 after acquiring an additional 262 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Price Performance
Shares of Enbridge stock traded down $0.18 on Friday, hitting $46.63. The company had a trading volume of 3,064,061 shares, compared to its average volume of 4,013,258. The company has a market cap of $101.66 billion, a PE ratio of 27.11, a PEG ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business has a 50-day simple moving average of $45.34 and a 200-day simple moving average of $43.95.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the firm posted $0.92 earnings per share. Research 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. Investors of record on Thursday, May 15th were paid a $0.679 dividend. 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 yield of 5.82%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.
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Enbridge Company Profile
(
Free Report)
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.
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