Enbridge Inc (NYSE:ENB) Holdings Lifted by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,505 shares of the pipeline company’s stock after purchasing an additional 722 shares during the period. First Horizon Advisors Inc.’s holdings in Enbridge were worth $288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Brighton Jones LLC bought a new position in Enbridge in the 4th quarter worth about $261,000. Fisher Asset Management LLC bought a new position in Enbridge in the 4th quarter worth about $239,000. Keybank National Association OH grew its position in Enbridge by 1.7% in the 4th quarter. Keybank National Association OH now owns 21,683 shares of the pipeline company’s stock worth $920,000 after purchasing an additional 363 shares during the last quarter. Assetmark Inc. grew its position in Enbridge by 271.6% in the 4th quarter. Assetmark Inc. now owns 202,701 shares of the pipeline company’s stock worth $8,601,000 after purchasing an additional 148,159 shares during the last quarter. Finally, Atria Investments Inc grew its position in Enbridge by 0.6% in the 4th quarter. Atria Investments Inc now owns 82,667 shares of the pipeline company’s stock worth $3,508,000 after purchasing an additional 463 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.1%

ENB stock opened at $44.76 on Friday. Enbridge Inc has a 12 month low of $35.10 and a 12 month high of $47.44. The firm has a market cap of $97.58 billion, a PE ratio of 23.07, a P/E/G ratio of 4.22 and a beta of 0.79. The firm has a 50 day simple moving average of $45.73 and a 200 day simple moving average of $44.25. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the business earned $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.07%. Enbridge’s dividend payout ratio is currently 140.21%.

Analysts Set New Price Targets

ENB has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. 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 reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Six 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, the company currently has an average rating of “Hold” and a consensus target price 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.