Enbridge Inc (NYSE:ENB) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC lowered its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 54.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,024 shares of the pipeline company's stock after selling 96,515 shares during the quarter. Morningstar Investment Services LLC's holdings in Enbridge were worth $3,632,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ENB. Garde Capital Inc. purchased a new stake in Enbridge during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the 1st quarter worth about $28,000. GeoWealth Management LLC increased its position 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 in the last quarter. Wolff Wiese Magana LLC increased its position 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 in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Enbridge during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note 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's stock. According to MarketBeat, Enbridge presently has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Trading Up 0.7%

NYSE:ENB traded up $0.31 during mid-day trading on Friday, reaching $45.07. The company's stock had a trading volume of 2,634,204 shares, compared to its average volume of 3,952,758. The stock has a market cap of $98.27 billion, a P/E ratio of 23.23, a P/E/G ratio of 4.24 and a beta of 0.79. Enbridge Inc has a twelve month low of $36.32 and a twelve month high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The company's fifty day simple moving average is $45.37 and its two-hundred day simple moving average is $44.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period in the previous year, the company posted $0.92 EPS. On average, equities analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.03%. The ex-dividend date was Thursday, May 15th. Enbridge's payout ratio is currently 140.21%.

Enbridge 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.