Enbridge Inc (NYSE:ENB) Shares Sold by St. James Investment Company LLC

St. James Investment Company LLC reduced its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 768,490 shares of the pipeline company’s stock after selling 10,057 shares during the quarter. Enbridge accounts for 5.7% of St. James Investment Company LLC’s portfolio, making the stock its 7th largest position. St. James Investment Company LLC’s holdings in Enbridge were worth $34,052,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aviso Financial Inc. increased its stake in shares of Enbridge by 4.3% during the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after acquiring an additional 58,176 shares during the period. Vanguard Group Inc. increased its position in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Greenland Capital Management LP raised its stake in shares of Enbridge by 189.1% in the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock worth $1,502,000 after buying an additional 23,160 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after buying an additional 25,071 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Enbridge by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company’s stock valued at $289,044,000 after buying an additional 1,135,000 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $44.81 on Thursday. The firm has a market capitalization of $97.70 billion, a P/E ratio of 23.10, a PEG ratio of 4.23 and a beta of 0.79. Enbridge Inc has a 12-month low of $35.10 and a 12-month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $45.79 and a 200-day moving average of $44.17.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share 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 return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the business posted $0.92 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 6.06%. Enbridge’s dividend payout ratio is presently 140.21%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ENB. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge 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.