Ballentine Partners LLC Sells 1,032 Shares of Enbridge Inc. (NYSE:ENB)

Ballentine Partners LLC decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,414 shares of the pipeline company’s stock after selling 1,032 shares during the quarter. Ballentine Partners LLC’s holdings in Enbridge were worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC increased its position in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge in the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. increased its position in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Trading Up 1.2 %

Enbridge stock opened at $35.10 on Tuesday. 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 stock has a market capitalization of $74.63 billion, a P/E ratio of 17.82, a PEG ratio of 3.25 and a beta of 0.90. The stock has a 50-day simple moving average of $35.89 and a 200 day simple moving average of $35.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9 billion. Analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 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.