Enbridge Inc. (NYSE:ENB) Holdings Boosted by Cozad Asset Management Inc.

Cozad Asset Management Inc. boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 286.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,034 shares of the pipeline company’s stock after purchasing an additional 40,056 shares during the period. Cozad Asset Management Inc.’s holdings in Enbridge were worth $1,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its stake in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares in the last quarter. Perigon Wealth Management LLC grew its stake in shares of Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after buying an additional 314 shares in the last quarter. Fifth Third Bancorp increased its holdings in Enbridge by 0.4% in the first quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after buying an additional 324 shares during the last quarter. Capital Investment Counsel Inc raised its position in Enbridge by 5.2% during the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after acquiring an additional 326 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in Enbridge by 2.8% in the first quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock valued at $452,000 after acquiring an additional 337 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.6 %

Shares of ENB traded up $0.23 during mid-day trading on Wednesday, hitting $36.24. 5,535,157 shares of the company’s stock were exchanged, compared to its average volume of 5,499,316. The stock has a market cap of $77.33 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 3.34 and a beta of 0.92. The firm has a fifty day moving average of $35.95 and a two-hundred day moving average of $35.62. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a $0.677 dividend. 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 7.47%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is 136.04%.

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.