Sequoia Financial Advisors LLC Grows Stock Holdings in Enbridge Inc (NYSE:ENB)

Sequoia Financial Advisors LLC raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,195 shares of the pipeline company’s stock after acquiring an additional 2,968 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $4,262,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC increased its position in shares of Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after acquiring an additional 7,986 shares during the period. Aviso Financial Inc. increased its position in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after acquiring an additional 58,176 shares during the period. Vanguard Group Inc. increased its position in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. Greenland Capital Management LP increased its position in shares of Enbridge by 189.1% in the fourth quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock valued at $1,502,000 after acquiring an additional 23,160 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after acquiring an additional 25,071 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7%

NYSE:ENB opened at $44.75 on Friday. Enbridge Inc has a one year low of $35.10 and a one year high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The company’s 50-day simple moving average is $45.82 and its 200 day simple moving average is $44.11. The firm has a market capitalization of $97.58 billion, a P/E ratio of 23.07, a PEG ratio of 4.25 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

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

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research reports. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average 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.