Bahl & Gaynor Inc. Sells 2,519 Shares of Enbridge Inc. (NYSE:ENB)

Bahl & Gaynor Inc. decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 426,404 shares of the pipeline company’s stock after selling 2,519 shares during the period. Bahl & Gaynor Inc.’s holdings in Enbridge were worth $15,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ENB. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge in the fourth quarter worth $25,000. Baystate Wealth Management LLC lifted its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Enbridge in the fourth quarter worth $28,000. Financial Gravity Asset Management Inc. lifted its position in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the fourth quarter valued at $34,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ENB shares. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.44 during trading on Friday, hitting $35.82. The stock had a trading volume of 4,384,025 shares, compared to its average volume of 5,769,161. The stock has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The stock has a 50-day simple moving average of $35.19 and a two-hundred day simple moving average of $34.80. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio is currently 129.05%.

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.