Enbridge Inc (NYSE:ENB) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,110,659 shares of the pipeline company's stock after buying an additional 322,359 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Enbridge worth $182,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Garde Capital Inc. purchased a new stake in Enbridge in the first quarter worth $26,000. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. GeoWealth Management LLC increased its stake in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after buying an additional 611 shares during the period. Wolff Wiese Magana LLC lifted its holdings in Enbridge by 91.3% during the 1st 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 in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Enbridge in the 4th quarter valued at about $39,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.9%

Shares of ENB traded down $0.39 during trading hours on Wednesday, hitting $43.81. The company had a trading volume of 2,811,918 shares, compared to its average volume of 3,947,652. 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 capitalization of $95.52 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Enbridge Inc has a one year low of $35.10 and a one year high of $47.44. The company's fifty day moving average price is $45.63 and its two-hundred day moving average price is $44.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly 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 business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period last year, the business earned $0.92 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal 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 given a dividend of $0.679 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 140.21%.

Analyst Upgrades and Downgrades

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