Dearborn Partners LLC Has $484,000 Position in Enbridge Inc. (NYSE:ENB)

Dearborn Partners LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,380 shares of the pipeline company’s stock after selling 1,233 shares during the quarter. Dearborn Partners LLC’s holdings in Enbridge were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its holdings in Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after acquiring an additional 280 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings 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 worth $319,000 after buying an additional 314 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Enbridge by 0.4% in the 1st 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 boosted its holdings in shares of Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after buying an additional 326 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Enbridge by 2.8% in the 1st quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock worth $452,000 after buying an additional 337 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.05 during midday trading on Thursday, reaching $36.29. The company had a trading volume of 1,198,193 shares, compared to its average volume of 5,467,133. The company’s 50 day moving average price is $35.93 and its 200 day moving average price is $35.63. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a market cap of $77.44 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.36 and a beta of 0.92. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared 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 an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.46%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is 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.