Wealth Enhancement Advisory Services LLC Grows Stock Position in Enbridge Inc (NYSE:ENB)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,557 shares of the pipeline company's stock after buying an additional 25,071 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Enbridge were worth $19,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in shares of Enbridge in the 4th quarter worth about $261,000. Venturi Wealth Management LLC raised its holdings in shares of Enbridge by 157.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company's stock worth $125,000 after purchasing an additional 1,802 shares during the period. Private Advisor Group LLC raised its holdings in shares of Enbridge by 5.4% in the 4th quarter. Private Advisor Group LLC now owns 129,109 shares of the pipeline company's stock worth $5,478,000 after purchasing an additional 6,620 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Enbridge by 1.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 50,095 shares of the pipeline company's stock worth $2,126,000 after purchasing an additional 841 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Enbridge by 9.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,148,864 shares of the pipeline company's stock worth $48,736,000 after purchasing an additional 96,591 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.6%

Shares of NYSE ENB opened at $44.71 on Friday. The company has a market cap of $97.47 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 4.22 and a beta of 0.81. Enbridge Inc has a 12-month low of $34.68 and a 12-month high of $47.44. 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 stock's 50 day simple moving average is $45.80 and its 200 day simple moving average is $44.05.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) 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 the consensus estimate 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 business posted $0.92 EPS. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced 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 was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.08%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 140.21%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ENB shares. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.

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