Infrastructure Capital Advisors LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.5% during the first quarter, HoldingsChannel reports. The firm owned 50,145 shares of the pipeline company’s stock after buying an additional 4,783 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Enbridge were worth $1,578,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of ENB. SeaCrest Wealth Management LLC purchased a new stake in Enbridge during the 4th quarter worth about $518,000. Stephens Inc. AR lifted its holdings in Enbridge by 2.6% during the 4th quarter. Stephens Inc. AR now owns 80,502 shares of the pipeline company’s stock worth $3,148,000 after purchasing an additional 2,016 shares in the last quarter. Palladium Partners LLC purchased a new stake in Enbridge during the 4th quarter worth about $204,000. St. James Investment Company LLC lifted its holdings in Enbridge by 10.2% during the 4th quarter. St. James Investment Company LLC now owns 1,836,892 shares of the pipeline company’s stock worth $71,841,000 after purchasing an additional 170,628 shares in the last quarter. Finally, Cypress Wealth Services LLC purchased a new stake in shares of Enbridge in the 4th quarter valued at about $542,000. 60.37% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. CIBC cut Enbridge to a “buy” rating and set a $57.00 price target on the stock. in a report on Tuesday, May 22nd. ValuEngine cut Enbridge from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Mizuho assumed coverage on Enbridge in a report on Thursday, March 29th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley lowered their price target on Enbridge from $38.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, March 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.33.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, May 10th. The pipeline company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.34. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $10.29 billion. Enbridge had a return on equity of 7.35% and a net margin of 5.61%. During the same period last year, the firm posted $0.57 EPS. research analysts expect that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Tuesday, May 15th were issued a dividend of $0.5295 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 6.83%. This is a boost from Enbridge’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 135.06%.
In other news, insider Robert R. Rooney acquired 6,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were bought at an average cost of $40.80 per share, with a total value of $248,880.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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