Gilman Hill Asset Management LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2,118.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 130,052 shares of the pipeline company's stock after purchasing an additional 124,189 shares during the period. Gilman Hill Asset Management LLC's holdings in Enbridge were worth $5,763,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ENB. Wintrust Investments LLC lifted its holdings in Enbridge by 47.8% during the fourth 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 lifted its stake in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Enbridge during the fourth quarter valued at about $39,000. Hopwood Financial Services Inc. purchased a new position in Enbridge in the fourth quarter valued at about $42,000. Finally, Vision Financial Markets LLC bought a new position in Enbridge in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 54.60% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on ENB. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $67.00.
Read Our Latest Analysis on Enbridge
Enbridge Stock Performance
Enbridge stock traded down $0.38 during trading hours on Friday, hitting $46.49. 2,653,356 shares of the stock traded hands, compared to its average volume of 4,033,791. The firm's 50 day moving average price is $45.13 and its 200-day moving average price is $43.85. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market capitalization of $101.35 billion, a price-to-earnings ratio of 27.03, a P/E/G 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.
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 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 business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the prior year, the firm earned $0.92 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.
Enbridge Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date 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 yield of 5.84%. Enbridge's payout ratio is presently 139.69%.
About Enbridge
(
Free Report)
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.
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