Hennessy Advisors Inc. Decreases Stake in Enbridge Inc. (NYSE:ENB)

Hennessy Advisors Inc. decreased its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 569,565 shares of the pipeline company's stock after selling 9,900 shares during the quarter. Hennessy Advisors Inc.'s holdings in Enbridge were worth $25,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. Wintrust Investments LLC raised its stake in Enbridge by 47.8% during 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 during the period. GeoWealth Management LLC increased its position in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Enbridge in the fourth quarter worth $39,000. Hopwood Financial Services Inc. purchased a new position in Enbridge during the fourth quarter worth $42,000. Finally, SJS Investment Consulting Inc. boosted its stake in Enbridge by 731.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company's stock worth $45,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE ENB traded down $0.18 during trading hours on Friday, reaching $46.63. The stock had a trading volume of 3,064,061 shares, compared to its average volume of 4,001,654. The stock has a market cap of $101.66 billion, a P/E ratio of 27.11, a price-to-earnings-growth 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 $47.44. The stock has a fifty day moving average of $45.45 and a 200 day moving average of $43.99. 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 (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity 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 quarter last year, the company earned $0.92 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share 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 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 was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.82%. Enbridge's dividend payout ratio (DPR) is 139.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ENB shares. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.