Bahl & Gaynor Inc. Cuts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Bahl & Gaynor Inc. decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,676 shares of the pipeline company’s stock after selling 1,728 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Enbridge were worth $15,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Enbridge during the first quarter valued at approximately $1,146,000. TIAA Trust National Association grew its holdings in shares of Enbridge by 9.4% during the first quarter. TIAA Trust National Association now owns 20,968 shares of the pipeline company’s stock valued at $759,000 after buying an additional 1,798 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the last quarter. Intech Investment Management LLC bought a new position in Enbridge during the first quarter valued at approximately $4,069,000. Finally, Nicolet Advisory Services LLC bought a new position in Enbridge during the first quarter valued at approximately $229,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock traded down $0.21 during midday trading on Tuesday, reaching $36.53. 2,318,940 shares of the company traded hands, compared to its average volume of 5,496,544. The firm has a market capitalization of $79.54 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 3.41 and a beta of 0.92. The business has a 50 day moving average of $35.86 and a two-hundred day moving average of $35.62. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. As a group, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.41%. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.