Franklin Street Advisors Inc. NC Buys 119,073 Shares of Enbridge Inc. (NYSE:ENB)

Franklin Street Advisors Inc. NC boosted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 116.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,025 shares of the pipeline company's stock after acquiring an additional 119,073 shares during the period. Franklin Street Advisors Inc. NC's holdings in Enbridge were worth $9,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Norges Bank acquired a new stake in Enbridge in the 4th quarter worth $909,415,000. Arrowstreet Capital Limited Partnership grew its position in Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. grew its position in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG grew its position 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 purchasing an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Enbridge in the 4th quarter worth $180,941,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $67.00.

Enbridge Price Performance

ENB stock traded up $0.91 during trading on Thursday, hitting $46.78. 3,058,025 shares of the stock traded hands, compared to its average volume of 4,013,083. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44. The stock has a market cap of $101.98 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 3.92 and a beta of 0.81. The company has a 50 day simple moving average of $45.34 and a 200 day simple moving average of $43.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same period last year, the firm posted $0.92 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared 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. This represents a $2.72 annualized dividend and a yield of 5.81%. The ex-dividend date was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

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.