NBC Securities Inc. Raises Position in Enbridge Inc. (NYSE:ENB)

NBC Securities Inc. increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 24.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,268 shares of the pipeline company’s stock after purchasing an additional 3,758 shares during the period. NBC Securities Inc.’s holdings in Enbridge were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. S.E.E.D. Planning Group LLC raised its holdings in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares during the last quarter. Clarius Group LLC raised its holdings in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 1,617 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 473 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Enbridge by 323.4% during the fourth quarter. International Assets Investment Management LLC now owns 665,413 shares of the pipeline company’s stock valued at $239,680,000 after purchasing an additional 508,258 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Stock Performance

ENB opened at $34.80 on Thursday. The firm has a market cap of $73.99 billion, a P/E ratio of 17.66, a PEG ratio of 3.26 and a beta of 0.90. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a 50 day simple moving average of $35.85 and a two-hundred day simple moving average of $35.62. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Equities analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 136.04%.

About Enbridge

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.