Enbridge Inc. (NYSE:ENB) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lessened its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 267,892 shares of the pipeline company's stock after selling 8,967 shares during the quarter. Enbridge makes up 1.3% of Jacobs & Co. CA's holdings, making the stock its 29th biggest position. Jacobs & Co. CA's holdings in Enbridge were worth $11,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marcum Wealth LLC grew its position in shares of Enbridge by 2.3% during the 1st quarter. Marcum Wealth LLC now owns 21,314 shares of the pipeline company's stock valued at $944,000 after acquiring an additional 486 shares during the period. Neville Rodie & Shaw Inc. increased its position in shares of Enbridge by 8.2% in the first quarter. Neville Rodie & Shaw Inc. now owns 17,071 shares of the pipeline company's stock valued at $756,000 after buying an additional 1,288 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Enbridge by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after buying an additional 7,890 shares in the last quarter. Anchor Pointe Wealth Management LLC purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $233,000. Finally, Aegis Wealth Management LLC acquired a new stake in Enbridge in the 4th quarter valued at $348,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

ENB traded up $0.65 on Friday, reaching $46.50. 4,106,198 shares of the company's stock were exchanged, compared to its average volume of 4,065,434. The stock has a market cap of $101.37 billion, a PE ratio of 27.03, a P/E/G ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The stock's fifty day moving average price is $44.93 and its 200-day moving average price is $43.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.92 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.84%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is 139.69%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ENB. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and an average price target of $67.00.

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.