Graypoint LLC Invests $358,000 in Enbridge Inc (NYSE:ENB)

Graypoint LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,075 shares of the pipeline company's stock, valued at approximately $358,000.

A number of other large investors have also recently bought and sold shares of the company. Garde Capital Inc. bought a new position in Enbridge during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the 1st quarter worth approximately $28,000. GeoWealth Management LLC raised its holdings in 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. Wolff Wiese Magana LLC raised 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 worth $34,000 after purchasing an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Enbridge during the 4th quarter worth approximately $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ENB. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial upgraded 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 stock. According to data from MarketBeat.com, Enbridge presently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Stock Up 0.7%

Shares of NYSE:ENB traded up $0.31 on Friday, hitting $45.07. 2,634,204 shares of the company traded hands, compared to its average volume of 3,952,758. Enbridge Inc has a 52 week low of $36.32 and a 52 week high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $45.37 and a 200-day simple moving average of $44.44. The company has a market cap of $98.27 billion, a PE ratio of 23.23, a PEG ratio of 4.24 and a beta of 0.79.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors 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 represents a $2.72 dividend on an annualized basis and a yield of 6.03%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

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.