Wealthfront Advisers LLC Sells 5,880 Shares of Enbridge Inc (NYSE:ENB)

Wealthfront Advisers LLC cut its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 43.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,688 shares of the pipeline company's stock after selling 5,880 shares during the period. Wealthfront Advisers LLC's holdings in Enbridge were worth $341,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Enbridge during the 4th quarter worth about $909,415,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Enbridge by 396.7% in 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 stake in shares of 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 purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG raised its stake in shares of 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 purchasing an additional 4,426,684 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 3,611,421 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $44.58 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The stock has a 50 day moving average price of $45.37 and a two-hundred day moving average price of $44.45. The firm has a market capitalization of $97.19 billion, a P/E ratio of 22.98, a P/E/G ratio of 4.23 and a beta of 0.79. Enbridge Inc has a 52 week low of $36.32 and a 52 week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data 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 firm had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period last year, the firm earned $0.92 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.09%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 140.21%.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Wall Street Zen raised shares of 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. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.

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