Enbridge Inc. (NYSE:ENB) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,179 shares of the pipeline company's stock after selling 11,633 shares during the quarter. Ritholtz Wealth Management's holdings in Enbridge were worth $2,312,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ENB. Wintrust Investments LLC raised its holdings in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC boosted its stake in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the fourth quarter worth about $39,000. Hopwood Financial Services Inc. purchased a new position in Enbridge during the 4th quarter valued at $42,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Enbridge by 731.7% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company's stock worth $45,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 1.5%

NYSE ENB traded down $0.72 during trading on Monday, reaching $45.95. 3,338,478 shares of the company's stock traded hands, compared to its average volume of 4,061,612. The company's 50 day simple moving average is $45.45 and its two-hundred day simple moving average is $43.99. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The firm has a market cap of $100.20 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. 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 announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter last year, the firm earned $0.92 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company 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. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's payout ratio is currently 139.69%.

Wall Street Analysts Forecast Growth

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

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.