ST Germain D J Co. Inc. Has $34,000 Holdings in Enbridge Inc. (NYSE:ENB)

ST Germain D J Co. Inc. reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 51.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 764 shares of the pipeline company’s stock after selling 796 shares during the period. ST Germain D J Co. Inc.’s holdings in Enbridge were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. JPMorgan Chase & Co. boosted its position in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of Enbridge during the 4th quarter valued at $261,000. Jennison Associates LLC raised its stake in Enbridge by 76.7% in the fourth quarter. Jennison Associates LLC now owns 999,358 shares of the pipeline company’s stock valued at $42,397,000 after purchasing an additional 433,901 shares in the last quarter. Old North State Wealth Management LLC lifted its position in Enbridge by 1.3% during the fourth quarter. Old North State Wealth Management LLC now owns 94,038 shares of the pipeline company’s stock worth $3,992,000 after purchasing an additional 1,179 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in Enbridge by 13.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 47,647 shares of the pipeline company’s stock worth $2,022,000 after buying an additional 5,683 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $46.72 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company has a fifty day moving average price of $45.08 and a 200-day moving average price of $43.82. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44. The firm has a market cap of $101.85 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company posted $0.92 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on ENB. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Enbridge 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.