Pinnacle Financial Partners Inc Purchases 1,469 Shares of Enbridge Inc (NYSE:ENB)

Pinnacle Financial Partners Inc increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 190,855 shares of the pipeline company’s stock after buying an additional 1,469 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Enbridge were worth $8,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Brighton Jones LLC bought a new position in shares of Enbridge during the 4th quarter valued at about $261,000. QRG Capital Management Inc. acquired a new stake in Enbridge during the 4th quarter worth approximately $319,000. SVB Wealth LLC bought a new position in Enbridge in the fourth quarter valued at approximately $280,000. Fisher Asset Management LLC acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $239,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Enbridge by 138.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,959 shares of the pipeline company’s stock valued at $83,000 after buying an additional 1,138 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $44.81 on Thursday. Enbridge Inc has a 52-week low of $35.10 and a 52-week high of $47.44. The company has a market cap of $97.70 billion, a P/E ratio of 23.10, a P/E/G ratio of 4.23 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The stock’s 50-day simple moving average is $45.79 and its 200 day simple moving average is $44.17.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s dividend payout ratio is 140.21%.

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.