Enbridge Inc. (NYSE:ENB) Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,931 shares of the pipeline company’s stock after purchasing an additional 73,391 shares during the period. Miller Howard Investments Inc. NY’s holdings in Enbridge were worth $28,037,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ENB. Pacifica Partners Inc. increased its position in shares of Enbridge by 1.0% in the first quarter. Pacifica Partners Inc. now owns 61,610 shares of the pipeline company’s stock worth $2,211,000 after acquiring an additional 601 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Enbridge by 16.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,573 shares of the pipeline company’s stock valued at $238,000 after purchasing an additional 950 shares in the last quarter. Southland Equity Partners LLC raised its position in Enbridge by 15.1% in the first quarter. Southland Equity Partners LLC now owns 13,471 shares of the pipeline company’s stock valued at $487,000 after purchasing an additional 1,765 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Enbridge by 53.0% during the first quarter. AdvisorNet Financial Inc now owns 6,873 shares of the pipeline company’s stock worth $249,000 after purchasing an additional 2,381 shares in the last quarter. Finally, True North Advisors LLC boosted its position in shares of Enbridge by 9.1% in the first quarter. True North Advisors LLC now owns 12,012 shares of the pipeline company’s stock worth $435,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.2 %

Shares of Enbridge stock traded up $0.40 during trading on Monday, reaching $35.10. The company had a trading volume of 5,118,617 shares, compared to its average volume of 5,744,269. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The firm’s fifty day moving average is $35.89 and its 200-day moving average is $35.63. The company has a market cap of $74.63 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. The firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, 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. Shareholders of record on Wednesday, May 15th were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

Wall Street Analysts Forecast Growth

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

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.