Enbridge Inc. (NYSE:ENB) Shares Sold by Five Oceans Advisors

Five Oceans Advisors trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,055 shares of the pipeline company’s stock after selling 224 shares during the quarter. Five Oceans Advisors’ holdings in Enbridge were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC purchased a new stake in shares of Enbridge during the fourth quarter valued at $261,000. Blue Trust Inc. raised its holdings in Enbridge by 34.4% during the 4th quarter. Blue Trust Inc. now owns 18,458 shares of the pipeline company’s stock worth $783,000 after buying an additional 4,722 shares during the period. Valeo Financial Advisors LLC lifted its stake in Enbridge by 4.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 5,941 shares of the pipeline company’s stock valued at $252,000 after buying an additional 267 shares in the last quarter. Allworth Financial LP lifted its stake in Enbridge by 516.1% during the fourth quarter. Allworth Financial LP now owns 69,604 shares of the pipeline company’s stock valued at $3,115,000 after buying an additional 58,307 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Enbridge by 38.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 10,091 shares of the pipeline company’s stock worth $428,000 after buying an additional 2,822 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 price objective 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 1.5%

ENB stock opened at $45.95 on Tuesday. The company has a 50 day moving average of $45.55 and a two-hundred day moving average of $44.01. The company has a market cap of $100.20 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the company earned $0.92 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.91%. 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 payout ratio is currently 139.69%.

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.