Raymond James & Associates Has $130.76 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Raymond James & Associates grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,614,142 shares of the pipeline company’s stock after buying an additional 223,140 shares during the quarter. Raymond James & Associates owned approximately 0.17% of Enbridge worth $130,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Enbridge by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after buying an additional 1,561,598 shares during the last quarter. TD Asset Management Inc grew its stake in Enbridge by 24.9% during the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after buying an additional 7,536,678 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Enbridge by 2.5% during the fourth quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock worth $1,271,115,000 after buying an additional 846,796 shares during the last quarter. Canoe Financial LP grew its stake in Enbridge by 80,631.1% during the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 1.1 %

NYSE ENB traded down $0.40 during trading hours on Tuesday, hitting $35.56. The company’s stock had a trading volume of 8,323,816 shares, compared to its average volume of 5,842,484. The stock has a fifty day moving average of $35.24 and a 200 day moving average of $34.87. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The firm has a market capitalization of $75.60 billion, a P/E ratio of 16.93, a PEG ratio of 3.39 and a beta of 0.84. 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 announced its quarterly earnings data 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 business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Equities research analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.62%. Enbridge’s dividend payout ratio (DPR) is 129.05%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.20.

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.