Enbridge Inc. (NYSE:ENB) Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 35,576 shares of the pipeline company’s stock after selling 300 shares during the quarter. Enbridge makes up approximately 1.0% of Global Trust Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Global Trust Asset Management LLC’s holdings in Enbridge were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter worth about $909,415,000. Arrowstreet Capital Limited Partnership lifted 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 buying an additional 9,621,425 shares in the last quarter. Blackstone Inc. lifted 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 buying an additional 4,956,379 shares in the last quarter. Deutsche Bank AG lifted 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 buying an additional 4,426,684 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Enbridge in the fourth quarter worth about $180,941,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 1.5%

ENB stock opened at $45.95 on Tuesday. The company has a fifty day moving average price of $45.55 and a 200 day moving average price of $44.01. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.44. The company has a market cap of $100.20 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (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 the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the company posted $0.92 EPS. Sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.91%. Enbridge’s dividend payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note 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 raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.