Sanibel Captiva Trust Company Inc. Reduces Stake in Enbridge Inc. (NYSE:ENB)

Sanibel Captiva Trust Company Inc. cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 650,761 shares of the pipeline company’s stock after selling 3,850 shares during the quarter. Enbridge accounts for 0.9% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 27th biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in Enbridge were worth $28,835,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dividend Assets Capital LLC lifted its holdings in Enbridge by 5.5% in the 1st quarter. Dividend Assets Capital LLC now owns 206,634 shares of the pipeline company’s stock valued at $9,156,000 after purchasing an additional 10,757 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Enbridge by 731.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company’s stock valued at $45,000 after buying an additional 900 shares during the period. MADDEN SECURITIES Corp grew its stake in Enbridge by 1.1% in the 1st quarter. MADDEN SECURITIES Corp now owns 159,409 shares of the pipeline company’s stock worth $7,063,000 after acquiring an additional 1,708 shares during the period. Farther Finance Advisors LLC increased its stake in Enbridge by 64.6% in the first quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock valued at $907,000 after purchasing an additional 7,992 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in Enbridge by 7.8% in the first quarter. Portside Wealth Group LLC now owns 32,645 shares of the pipeline company’s stock valued at $1,446,000 after purchasing an additional 2,365 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB opened at $45.81 on Tuesday. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.44. The company has a 50 day moving average of $45.18 and a two-hundred day moving average of $43.90. The company has a market cap of $99.86 billion, a P/E ratio of 26.63, 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 (NYSE:ENB) (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, beating the consensus estimate of $0.68 by $0.04. The firm 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 period in the prior year, the firm earned $0.92 EPS. On average, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Citigroup began coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average 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.