Montrusco Bolton Investments Inc. Sells 118,352 Shares of Enbridge Inc (NYSE:ENB)

Montrusco Bolton Investments Inc. trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 767,921 shares of the pipeline company’s stock after selling 118,352 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Enbridge were worth $33,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new stake in shares of Enbridge in the first quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge in the first quarter worth about $28,000. GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares during the period. Wolff Wiese Magana LLC increased its holdings in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 365 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Enbridge during the 4th quarter valued at about $39,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ENB. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note 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.com, Enbridge presently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Trading Down 0.0%

NYSE:ENB opened at $45.26 on Thursday. Enbridge Inc has a one year low of $35.91 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 firm has a market capitalization of $98.69 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 4.25 and a beta of 0.79. The business has a fifty day moving average price of $45.41 and a 200-day moving average price of $44.39.

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

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a dividend of $0.679 per share. 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. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.00%. Enbridge’s dividend payout ratio (DPR) is presently 140.21%.

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.