Griffin Asset Management Inc. Sells 5,612 Shares of Enbridge Inc. (NYSE:ENB)

Griffin Asset Management Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,766 shares of the pipeline company's stock after selling 5,612 shares during the quarter. Griffin Asset Management Inc.'s holdings in Enbridge were worth $3,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Wintrust Investments LLC grew its stake in shares of 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 last quarter. GeoWealth Management LLC boosted its holdings in shares of 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 acquiring an additional 611 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Enbridge during the 4th quarter worth $39,000. Hopwood Financial Services Inc. acquired a new position in Enbridge in the 4th quarter worth about $42,000. Finally, SJS Investment Consulting Inc. raised its position in Enbridge by 731.7% in the first 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. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENB shares. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Enbridge presently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Trading Down 0.4%

ENB traded down $0.18 during trading on Friday, reaching $46.63. 3,064,061 shares of the stock traded hands, compared to its average volume of 4,013,264. The stock has a market capitalization of $101.66 billion, a PE ratio of 27.11, a P/E/G ratio of 3.92 and a beta of 0.81. 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 stock's 50-day moving average is $45.45 and its 200 day moving average is $43.98. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.44.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.679 dividend. This is a boost 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 annualized dividend and a yield of 5.82%. Enbridge's dividend payout ratio (DPR) is presently 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.