Autumn Glory Partners LLC Purchases 1,350 Shares of Enbridge Inc (NYSE:ENB)

Autumn Glory Partners LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,965 shares of the pipeline company’s stock after purchasing an additional 1,350 shares during the period. Autumn Glory Partners LLC’s holdings in Enbridge were worth $353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wintrust Investments LLC grew its stake in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC grew its stake in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in Enbridge during the fourth quarter valued at $39,000. Hopwood Financial Services Inc. purchased a new position in Enbridge during the fourth quarter valued at $42,000. Finally, SJS Investment Consulting Inc. grew its stake in 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 acquiring an additional 900 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Price Performance

ENB stock opened at $44.99 on Thursday. Enbridge Inc has a 12 month low of $34.60 and a 12 month high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $45.70 and a 200 day moving average price of $44.03. The stock has a market cap of $98.10 billion, a PE ratio of 23.19, a P/E/G ratio of 4.33 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the previous year, the company earned $0.92 EPS. Equities research analysts anticipate 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. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 140.21%.

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.