HM Payson & Co. Buys 1,963 Shares of Enbridge Inc (NYSE:ENB)

HM Payson & Co. grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,117 shares of the pipeline company’s stock after purchasing an additional 1,963 shares during the period. HM Payson & Co.’s holdings in Enbridge were worth $404,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Enbridge during the 4th quarter valued at approximately $261,000. Atria Investments Inc grew its holdings in shares of Enbridge by 0.6% in the fourth quarter. Atria Investments Inc now owns 82,667 shares of the pipeline company’s stock valued at $3,508,000 after purchasing an additional 463 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Enbridge by 23.3% in the fourth quarter. Candriam S.C.A. now owns 15,379 shares of the pipeline company’s stock valued at $652,000 after purchasing an additional 2,903 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in Enbridge by 9.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,623 shares of the pipeline company’s stock worth $1,002,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Enbridge during the fourth quarter valued at $807,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $44.76 on Monday. 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 firm has a market capitalization of $97.58 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. Enbridge Inc has a 1-year low of $35.10 and a 1-year high of $47.44. The company’s 50-day moving average is $45.73 and its 200 day moving average is $44.27.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 140.21%.

Enbridge 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.