Park Avenue Securities LLC Acquires 16,343 Shares of Enbridge Inc. (NYSE:ENB)

Park Avenue Securities LLC grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 61.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,922 shares of the pipeline company’s stock after purchasing an additional 16,343 shares during the period. Park Avenue Securities LLC’s holdings in Enbridge were worth $1,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC increased its holdings in shares of Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Enbridge by 24.6% in the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares in the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Enbridge by 1.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock worth $646,000 after purchasing an additional 340 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of Enbridge by 3.3% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 11,309 shares of the pipeline company’s stock worth $407,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Stock Performance

NYSE:ENB opened at $34.70 on Monday. The stock has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $35.62. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The firm has a market capitalization of $73.78 billion, a PE ratio of 17.61, a P/E/G ratio of 3.26 and a beta of 0.90.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.80%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

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.