Woodley Farra Manion Portfolio Management Inc. Sells 7,150 Shares of Enbridge Inc (NYSE:ENB)

Woodley Farra Manion Portfolio Management Inc. reduced its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 59.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,780 shares of the pipeline company's stock after selling 7,150 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.'s holdings in Enbridge were worth $212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Garde Capital Inc. acquired a new stake in Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge during the first quarter valued at approximately $28,000. GeoWealth Management LLC boosted its holdings in 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 in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in shares of Enbridge in the fourth quarter valued at approximately $39,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.2%

Shares of ENB stock traded down $0.09 on Wednesday, hitting $44.99. The stock had a trading volume of 2,642,888 shares, compared to its average volume of 3,757,241. Enbridge Inc has a twelve month low of $36.50 and a twelve month high of $47.44. The firm has a market cap of $98.10 billion, a P/E ratio of 23.19, a PEG ratio of 4.20 and a beta of 0.79. 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 fifty day moving average price of $45.40 and a two-hundred day moving average price of $44.52.

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 for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the prior year, the business earned $0.92 EPS. As a group, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.6839 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 6.08%. Enbridge's payout ratio is 140.21%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.