Enbridge Inc. (NYSE:ENB) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,110 shares of the pipeline company’s stock after acquiring an additional 113,744 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Enbridge were worth $44,891,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Miller Wealth Management LLC bought a new position in shares of Enbridge during the first quarter worth about $240,000. Trust Co. of Toledo NA OH lifted its stake in Enbridge by 2.5% during the first quarter. Trust Co. of Toledo NA OH now owns 14,081 shares of the pipeline company’s stock worth $624,000 after purchasing an additional 350 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Enbridge by 6.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,257,927 shares of the pipeline company’s stock worth $55,739,000 after purchasing an additional 79,425 shares during the period. Sound Income Strategies LLC increased its stake in Enbridge by 3.4% during the first quarter. Sound Income Strategies LLC now owns 653,393 shares of the pipeline company’s stock valued at $28,952,000 after purchasing an additional 21,573 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC raised its holdings in shares of Enbridge by 3.3% during the first quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 16,324 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 520 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE ENB opened at $45.95 on Tuesday. The firm’s 50-day simple moving average is $45.55 and its 200 day simple moving average is $44.01. The stock has a market cap of $100.20 billion, a P/E ratio of 26.72, 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 Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the business posted $0.92 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared 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. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 139.69%.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $67.00.

About Enbridge

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.