Envestnet Asset Management Inc. Has $182.10 Million Stake in Enbridge Inc (NYSE:ENB)

Envestnet Asset Management Inc. boosted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,110,659 shares of the pipeline company's stock after purchasing an additional 322,359 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Enbridge worth $182,095,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ENB. Hexagon Capital Partners LLC increased its stake in shares of Enbridge by 9.1% in the first quarter. Hexagon Capital Partners LLC now owns 6,710 shares of the pipeline company's stock worth $297,000 after purchasing an additional 562 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in Enbridge by 3.1% during the first quarter. Adell Harriman & Carpenter Inc. now owns 111,616 shares of the pipeline company's stock valued at $4,946,000 after purchasing an additional 3,400 shares in the last quarter. HM Payson & Co. boosted its holdings in Enbridge by 27.4% during the first quarter. HM Payson & Co. now owns 9,117 shares of the pipeline company's stock valued at $404,000 after purchasing an additional 1,963 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Enbridge by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 5,207,519 shares of the pipeline company's stock worth $230,745,000 after acquiring an additional 51,158 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Enbridge in the 1st quarter worth approximately $105,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 target price 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, Enbridge currently has a consensus rating of "Hold" and an average price target of $67.00.

Enbridge Price Performance

Enbridge stock traded down $0.08 during mid-day trading on Thursday, reaching $43.72. The company had a trading volume of 870,054 shares, compared to its average volume of 3,965,002. Enbridge Inc has a fifty-two week low of $35.68 and a fifty-two week high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market cap of $95.32 billion, a P/E ratio of 22.53, a P/E/G ratio of 4.16 and a beta of 0.79. The business has a fifty day simple moving average of $45.58 and a 200 day simple moving average of $44.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter last year, the business posted $0.92 earnings per share. On average, equities research analysts predict 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. Stockholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is 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.