Azimuth Capital Investment Management LLC Cuts Stake in Enbridge Inc (NYSE:ENB)

Azimuth Capital Investment Management LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,705 shares of the pipeline company’s stock after selling 699 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Enbridge were worth $607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ENB. Dagco Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $25,000. Garde Capital Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter valued at $30,000. Finally, GeoWealth Management LLC grew its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after buying an additional 611 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ENB shares. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued 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 report on Tuesday, August 5th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Argus boosted their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Trading Down 2.4%

NYSE ENB opened at $47.02 on Friday. The company has a market capitalization of $102.53 billion, a PE ratio of 23.16, a P/E/G ratio of 4.41 and a beta of 0.79. The company has a fifty day moving average of $45.55 and a 200 day moving average of $44.73. Enbridge Inc has a 1 year low of $38.49 and a 1 year high of $48.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge’s payout ratio is currently 133.99%.

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.