United Advisor Group LLC Increases Holdings in Enbridge Inc (NYSE:ENB)

United Advisor Group LLC increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,646 shares of the pipeline company’s stock after acquiring an additional 611 shares during the period. United Advisor Group LLC’s holdings in Enbridge were worth $472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Enbridge in the fourth quarter valued at $261,000. Strategic Financial Concepts LLC grew its stake in Enbridge by 38.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 10,091 shares of the pipeline company’s stock valued at $428,000 after acquiring an additional 2,822 shares during the last quarter. D.A. Davidson & CO. grew its stake in Enbridge by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 175,703 shares of the pipeline company’s stock valued at $7,455,000 after acquiring an additional 1,280 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Enbridge by 157.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company’s stock valued at $125,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Enbridge during the fourth quarter worth about $104,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $44.99 on Friday. Enbridge Inc has a 1 year low of $34.60 and a 1 year high of $47.44. The company’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $44.04. The company has a market capitalization of $98.10 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 4.24 and a beta of 0.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.04%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 140.21%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.