Bahl & Gaynor Inc. Has $15.36 Million Holdings in Enbridge Inc. (NYSE:ENB)

Bahl & Gaynor Inc. reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 426,404 shares of the pipeline company’s stock after selling 2,519 shares during the period. Bahl & Gaynor Inc.’s holdings in Enbridge were worth $15,359,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Caprock Group LLC boosted its holdings in shares of Enbridge by 25.2% during the third quarter. Caprock Group LLC now owns 22,323 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 4,497 shares during the period. Blue Fin Capital Inc. increased its holdings in Enbridge by 7.5% in the 3rd quarter. Blue Fin Capital Inc. now owns 10,075 shares of the pipeline company’s stock valued at $334,000 after acquiring an additional 702 shares during the last quarter. Verity & Verity LLC increased its holdings in Enbridge by 6.3% in the 3rd quarter. Verity & Verity LLC now owns 461,115 shares of the pipeline company’s stock valued at $14,839,000 after acquiring an additional 27,473 shares during the last quarter. KRS Capital Management LLC increased its holdings in shares of Enbridge by 40.9% in the 3rd quarter. KRS Capital Management LLC now owns 8,443 shares of the pipeline company’s stock worth $283,000 after buying an additional 2,450 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in shares of Enbridge by 12.9% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 43,084 shares of the pipeline company’s stock worth $1,430,000 after buying an additional 4,932 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.44 on Friday, hitting $35.82. The company’s stock had a trading volume of 4,384,025 shares, compared to its average volume of 5,769,161. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average price of $35.19 and a 200-day moving average price of $34.80. The company has a market capitalization of $76.15 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. On average, equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 129.05%.

Analysts Set New Price Targets

ENB has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.20.

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.