Guinness Asset Management LTD Has $11.27 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Guinness Asset Management LTD decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.5% in the 1st quarter, Holdings Channel reports. The firm owned 311,843 shares of the pipeline company’s stock after selling 18,163 shares during the quarter. Guinness Asset Management LTD’s holdings in Enbridge were worth $11,272,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Triangle Securities Wealth Management increased its position in shares of Enbridge by 0.9% during the first quarter. Triangle Securities Wealth Management now owns 55,618 shares of the pipeline company’s stock valued at $2,012,000 after buying an additional 480 shares during the period. Marcum Wealth LLC raised its holdings in Enbridge by 10.0% in the first quarter. Marcum Wealth LLC now owns 20,316 shares of the pipeline company’s stock worth $735,000 after purchasing an additional 1,849 shares in the last quarter. Nexus Investment Management ULC increased its holdings in shares of Enbridge by 1.8% during the first quarter. Nexus Investment Management ULC now owns 776,812 shares of the pipeline company’s stock valued at $28,093,000 after acquiring an additional 13,450 shares in the last quarter. Inscription Capital LLC purchased a new stake in shares of Enbridge during the first quarter valued at $546,000. Finally, Park Avenue Securities LLC boosted its position in shares of Enbridge by 61.5% during the first quarter. Park Avenue Securities LLC now owns 42,922 shares of the pipeline company’s stock valued at $1,553,000 after buying an additional 16,343 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

ENB traded down $0.05 on Friday, hitting $34.70. 6,678,570 shares of the company’s stock traded hands, compared to its average volume of 4,025,145. The company’s 50 day simple moving average is $35.86 and its 200-day simple moving average is $35.61. The firm has a market cap of $73.78 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 3.26 and a beta of 0.90. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (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 for the quarter, compared to the consensus estimate of $9 billion. As a group, research analysts anticipate that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.80%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

Enbridge Company 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.