New Hampshire Trust Reduces Position in Enbridge Inc. (NYSE:ENB)

New Hampshire Trust reduced its stake in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 25.3% during the 1st quarter, HoldingsChannel reports. The firm owned 14,270 shares of the pipeline company’s stock after selling 4,831 shares during the period. New Hampshire Trust’s holdings in Enbridge were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canoe Financial LP boosted its stake in shares of Enbridge by 80,631.1% in the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after buying an additional 33,419,164 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. Norges Bank purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $714,662,000. TD Asset Management Inc boosted its stake in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.20.

Check Out Our Latest Research Report on Enbridge

Enbridge Price Performance

ENB stock traded down $0.01 during midday trading on Thursday, hitting $34.79. 946,681 shares of the stock were exchanged, compared to its average volume of 5,709,948. The stock’s 50-day moving average price is $35.85 and its 200-day moving average price is $35.62. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.26 and a beta of 0.90. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Research analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.78%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. Enbridge’s payout ratio is 136.04%.

Enbridge Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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