Kingsview Wealth Management LLC Sells 8,403 Shares of Enbridge Inc (NYSE:ENB)

Kingsview Wealth Management LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,801 shares of the pipeline company's stock after selling 8,403 shares during the quarter. Kingsview Wealth Management LLC's holdings in Enbridge were worth $4,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Enbridge in the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after acquiring an additional 9,621,425 shares during the last quarter. Blackstone Inc. increased its holdings in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research reports. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Performance

NYSE:ENB traded up $0.31 during trading hours on Friday, reaching $45.07. 2,634,204 shares of the stock were exchanged, compared to its average volume of 3,952,758. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The firm has a 50 day simple moving average of $45.37 and a 200-day simple moving average of $44.44. The stock has a market capitalization of $98.27 billion, a P/E ratio of 23.23, a P/E/G ratio of 4.24 and a beta of 0.79. Enbridge Inc has a 52 week low of $36.32 and a 52 week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The firm 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 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

About Enbridge

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.