M&T Bank Corp Decreases Position in Enbridge Inc (NYSE:ENB)

M&T Bank Corp decreased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,144 shares of the pipeline company's stock after selling 12,578 shares during the period. M&T Bank Corp's holdings in Enbridge were worth $14,186,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth about $26,000. Wintrust Investments LLC lifted its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after buying an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in shares of Enbridge in the 4th quarter valued at approximately $39,000. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENB. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $67.00.

Enbridge Trading Down 0.0%

NYSE ENB traded down $0.02 during trading on Thursday, hitting $43.78. The stock had a trading volume of 1,024,729 shares, compared to its average volume of 3,941,524. The company has a market capitalization of $95.45 billion, a PE ratio of 22.60, a PEG ratio of 4.16 and a beta of 0.79. 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 moving average price of $45.58 and a 200 day moving average price of $44.29. Enbridge Inc has a twelve month low of $35.34 and a twelve month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share 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 company 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 company posted $0.92 EPS. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.20%. Enbridge's payout ratio is currently 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.