Enbridge Inc. (NYSE:ENB) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,838 shares of the pipeline company’s stock after selling 305 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Enbridge were worth $834,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ENB. Verity & Verity LLC increased its position in shares of Enbridge by 3.0% in the first quarter. Verity & Verity LLC now owns 553,570 shares of the pipeline company’s stock worth $24,529,000 after acquiring an additional 15,898 shares in the last quarter. Albert D Mason Inc. increased its position in shares of Enbridge by 2.5% in the first quarter. Albert D Mason Inc. now owns 23,210 shares of the pipeline company’s stock worth $1,028,000 after acquiring an additional 565 shares in the last quarter. Thomasville National Bank increased its position in shares of Enbridge by 3.0% in the first quarter. Thomasville National Bank now owns 835,823 shares of the pipeline company’s stock worth $37,035,000 after acquiring an additional 24,222 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Enbridge by 143.1% in the first quarter. Fifth Third Bancorp now owns 151,317 shares of the pipeline company’s stock worth $6,705,000 after acquiring an additional 89,066 shares in the last quarter. Finally, Focus Financial Network Inc. increased its position in shares of Enbridge by 2.6% in the first quarter. Focus Financial Network Inc. now owns 17,422 shares of the pipeline company’s stock worth $772,000 after acquiring an additional 434 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $46.78 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $101.98 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a 50 day moving average price of $45.34 and a two-hundred day moving average price of $43.95. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion during 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 earned $0.92 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.81%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge’s payout ratio is presently 139.69%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Company 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.