Exchange Traded Concepts LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Exchange Traded Concepts LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,257,927 shares of the pipeline company's stock after purchasing an additional 79,425 shares during the period. Enbridge makes up about 1.0% of Exchange Traded Concepts LLC's investment portfolio, making the stock its 21st largest holding. Exchange Traded Concepts LLC owned 0.06% of Enbridge worth $55,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wintrust Investments LLC grew its stake in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC raised its stake in Enbridge by 436.4% during the 4th 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. Capital A Wealth Management LLC bought a new position in Enbridge in the fourth quarter valued at about $39,000. Hopwood Financial Services Inc. bought a new stake in shares of Enbridge during the 4th quarter valued at about $42,000. Finally, SJS Investment Consulting Inc. increased its position in shares of Enbridge by 731.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company's stock valued at $45,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note 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. CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, BMO Capital Markets reaffirmed a "market 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 assigned a buy rating to the stock. According to MarketBeat.com, Enbridge has an average rating of "Hold" and an average price target of $67.00.

Enbridge Stock Down 0.4%

ENB stock traded down $0.18 during trading on Friday, hitting $46.63. 3,064,061 shares of the company's stock traded hands, compared to its average volume of 4,001,654. The firm has a market capitalization of $101.66 billion, a P/E ratio of 27.11, a PEG ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $45.45 and a two-hundred day simple moving average of $43.99.

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 10.04% and a return on equity of 10.16%. During the same period last year, the business earned $0.92 EPS. Sell-side 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. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is an increase 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 dividend yield of 5.82%. Enbridge's payout ratio is 139.69%.

Enbridge Company 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.