Linscomb & Williams Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,155 shares of the pipeline company’s stock after selling 1,887 shares during the period. Linscomb & Williams Inc.’s holdings in Enbridge were worth $952,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC increased its position in shares of Enbridge by 68.6% during the first quarter. Lindbrook Capital LLC now owns 713 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 290 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in shares of Enbridge during the first quarter valued at about $32,000. Selective Wealth Management Inc. increased its position in shares of Enbridge by 133.2% during the first quarter. Selective Wealth Management Inc. now owns 884 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 505 shares during the last quarter. Reby Advisors LLC acquired a new stake in shares of Enbridge during the fourth quarter valued at about $29,000. Finally, Costello Asset Management INC acquired a new stake in shares of Enbridge during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 49.04% of the company’s stock.
Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Enbridge from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, May 17th. Stifel Nicolaus lowered their price objective on shares of Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, February 16th. Tudor Pickering reissued a “buy” rating and issued a C$52.00 price objective on shares of Enbridge in a research note on Friday. TD Securities raised their price objective on shares of Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Finally, Argus raised their price objective on shares of Enbridge from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, May 25th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $51.82.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 7th. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. Enbridge had a net margin of 16.77% and a return on equity of 8.68%. The company had revenue of $9.35 billion during the quarter. As a group, analysts predict that Enbridge Inc. will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a dividend of $0.6778 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.82%. The ex-dividend date was Thursday, May 13th. This is an increase from Enbridge’s previous quarterly dividend of $0.65. Enbridge’s payout ratio is currently 144.20%.
Enbridge Company Profile
Enbridge Inc 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.
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