Telos Capital Management Inc. Decreases Position in Enbridge Inc (NYSE:ENB)

Telos Capital Management Inc. cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,433 shares of the pipeline company’s stock after selling 230 shares during the period. Telos Capital Management Inc.’s holdings in Enbridge were worth $6,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in Enbridge during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the first quarter valued at approximately $28,000. Wintrust Investments LLC raised its position in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the period. GeoWealth Management LLC raised its position in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares during the period. Finally, Wolff Wiese Magana LLC grew its stake in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after buying an additional 365 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.9%

Enbridge stock opened at $43.81 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a 50 day moving average price of $45.58 and a 200 day moving average price of $44.29. The company has a market capitalization of $95.52 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Enbridge Inc has a fifty-two week low of $35.34 and a fifty-two week high of $47.44.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.20%. Enbridge’s payout ratio is 140.21%.

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.