Meyer Handelman Co. Has $1.73 Million Position in Enbridge Inc. (NYSE:ENB)

Meyer Handelman Co. decreased its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,141 shares of the pipeline company's stock after selling 10,152 shares during the quarter. Meyer Handelman Co.'s holdings in Enbridge were worth $1,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC lifted its holdings in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company's stock worth $23,717,000 after buying an additional 44,675 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock valued at $655,556,000 after acquiring an additional 176,733 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Enbridge during the fourth quarter worth $261,000. Perigon Wealth Management LLC lifted its holdings in shares of Enbridge by 11.8% in the 4th quarter. Perigon Wealth Management LLC now owns 8,114 shares of the pipeline company's stock valued at $357,000 after buying an additional 856 shares during the period. Finally, Crews Bank & Trust purchased a new position in shares of Enbridge during the 4th quarter valued at approximately $121,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.2%

ENB stock traded down $0.08 during midday trading on Tuesday, hitting $47.09. 3,102,532 shares of the company's stock were exchanged, compared to its average volume of 4,056,945. The firm has a 50 day moving average price of $44.98 and a 200-day moving average price of $43.77. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.40. The stock has a market capitalization of $102.65 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business 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 is an increase 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 5.77%. Enbridge's dividend payout ratio is presently 139.69%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENB. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.