Verity & Verity LLC Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Verity & Verity LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 553,570 shares of the pipeline company's stock after purchasing an additional 15,898 shares during the period. Enbridge makes up about 2.2% of Verity & Verity LLC's holdings, making the stock its 12th biggest position. Verity & Verity LLC's holdings in Enbridge were worth $24,529,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Albert D Mason Inc. grew its stake in Enbridge by 2.5% during the first quarter. Albert D Mason Inc. now owns 23,210 shares of the pipeline company's stock worth $1,028,000 after purchasing an additional 565 shares during the period. Thomasville National Bank grew its stake in Enbridge by 3.0% during the first quarter. Thomasville National Bank now owns 835,823 shares of the pipeline company's stock worth $37,035,000 after purchasing an additional 24,222 shares during the period. Fifth Third Bancorp grew its stake in Enbridge by 143.1% during the first quarter. Fifth Third Bancorp now owns 151,317 shares of the pipeline company's stock worth $6,705,000 after purchasing an additional 89,066 shares during the period. Focus Financial Network Inc. grew its stake in Enbridge by 2.6% during the first quarter. Focus Financial Network Inc. now owns 17,422 shares of the pipeline company's stock worth $772,000 after purchasing an additional 434 shares during the period. Finally, InTrack Investment Management Inc acquired a new stake in Enbridge during the first quarter worth approximately $591,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ENB shares. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Enbridge Stock Down 0.4%

ENB stock traded down $0.18 during mid-day trading on Friday, reaching $46.63. 3,064,061 shares of the company traded hands, compared to its average volume of 4,013,258. The stock has a market cap of $101.66 billion, a price-to-earnings 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. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.67. The firm's 50 day moving average price is $45.34 and its 200 day moving average price is $43.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.82%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is 139.69%.

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.