Harbour Trust & Investment Management Co Has $6.33 Million Stock Holdings in Enbridge Inc (NYSE:ENB)

Harbour Trust & Investment Management Co reduced its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 12.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,806 shares of the pipeline company's stock after selling 20,973 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Enbridge were worth $6,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new position in shares of Enbridge during the first quarter worth about $67,000. DAVENPORT & Co LLC lifted its stake in Enbridge by 0.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,977,677 shares of the pipeline company's stock valued at $87,620,000 after acquiring an additional 5,471 shares in the last quarter. Clear Creek Financial Management LLC boosted its position in Enbridge by 1.8% during the 1st quarter. Clear Creek Financial Management LLC now owns 28,652 shares of the pipeline company's stock worth $1,270,000 after acquiring an additional 508 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Enbridge by 98.8% during the 1st quarter. Vontobel Holding Ltd. now owns 11,481 shares of the pipeline company's stock worth $508,000 after acquiring an additional 5,706 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $235,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB traded down $0.11 during midday trading on Wednesday, reaching $44.81. The stock had a trading volume of 4,228,717 shares, compared to its average volume of 3,954,570. The firm has a market cap of $97.70 billion, a PE ratio of 23.10, a P/E/G ratio of 4.27 and a beta of 0.79. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $44.17. Enbridge Inc has a one year low of $35.10 and a one year high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51.

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 (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period last year, the business posted $0.92 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.06%. The ex-dividend date was Thursday, May 15th. Enbridge's payout ratio is currently 140.21%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research reports. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of "Hold" and a consensus target price of $67.00.

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.