Enbridge Inc (NYSE:ENB) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,241 shares of the pipeline company's stock after purchasing an additional 14,293 shares during the quarter. Enbridge comprises approximately 0.8% of Tectonic Advisors LLC's portfolio, making the stock its 20th biggest position. Tectonic Advisors LLC's holdings in Enbridge were worth $12,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $909,415,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. raised its position in Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after acquiring an additional 4,956,379 shares in the last quarter. Deutsche Bank AG raised its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of ENB stock traded up $0.31 during mid-day trading on Friday, reaching $45.07. The stock had a trading volume of 2,525,498 shares, compared to its average volume of 3,970,401. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market cap of $98.27 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 4.25 and a beta of 0.79. Enbridge Inc has a 12-month low of $36.06 and a 12-month high of $47.44. The business has a 50-day simple moving average of $45.39 and a 200 day simple moving average of $44.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the company earned $0.92 earnings per share. On average, sell-side 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. Shareholders of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.03%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

Analysts Set New Price Targets

Several research firms have issued reports on ENB. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $67.00.

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.