Envestnet Asset Management Inc. Boosts Stock Holdings in Enbridge Inc (NYSE:ENB)

Envestnet Asset Management Inc. grew its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% in the 1st quarter, according to the company in its most recent 13F filing 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 approximately 0.19% of Enbridge worth $182,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. GQG Partners LLC raised its stake in Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. raised its stake in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after acquiring an additional 1,040,799 shares during the last quarter. Deutsche Bank AG raised its stake in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares during the last quarter. Finally, Norges Bank purchased a new position in Enbridge in the 4th quarter worth $909,415,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ENB shares. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Six research 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 has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Price Performance

ENB traded up $0.04 during trading on Friday, reaching $44.53. The company's stock had a trading volume of 4,989,470 shares, compared to its average volume of 3,968,477. Enbridge Inc has a 1 year low of $35.68 and a 1 year high of $47.44. The company has a market cap of $97.09 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 4.19 and a beta of 0.79. The firm has a fifty day simple moving average of $45.49 and a two-hundred day simple moving average of $44.32. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.

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

Enbridge Increases Dividend

The company 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 a positive change 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 6.10%. Enbridge's payout ratio is presently 140.21%.

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.