Envestnet Asset Management Inc. Purchases 322,359 Shares of Enbridge Inc (NYSE:ENB)

Envestnet Asset Management Inc. increased its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,110,659 shares of the pipeline company's stock after buying an additional 322,359 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Enbridge worth $182,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviso Financial Inc. boosted its stake in Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock valued at $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. Greenland Capital Management LP boosted its stake in shares of Enbridge by 189.1% in the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock worth $1,502,000 after buying an additional 23,160 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock worth $289,044,000 after buying an additional 1,135,000 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

NYSE:ENB traded up $0.04 on Friday, reaching $44.53. 4,982,364 shares of the company's stock traded hands, compared to its average volume of 4,005,851. 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 stock has a 50-day simple moving average of $45.54 and a 200-day simple moving average of $44.30. The firm has a market cap of $97.09 billion, a PE ratio of 22.95, a P/E/G ratio of 4.13 and a beta of 0.79. Enbridge Inc has a 12 month low of $35.68 and a 12 month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period last year, the firm earned $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.10%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

Wall Street Analysts Forecast Growth

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