Bank of New Hampshire Sells 850 Shares of Enbridge Inc. (NYSE:ENB)

Bank of New Hampshire cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,550 shares of the pipeline company’s stock after selling 850 shares during the quarter. Bank of New Hampshire’s holdings in Enbridge were worth $128,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ENB. Harbor Investment Advisory LLC grew its position in shares of Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after acquiring an additional 280 shares during the period. North Star Investment Management Corp. grew its position in shares of Enbridge by 24.6% in the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares during the period. Capital Investment Counsel Inc boosted its holdings in shares of Enbridge by 5.2% during 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 period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Enbridge by 1.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock worth $646,000 after buying an additional 340 shares during the period. Finally, Azimuth Capital Investment Management LLC boosted its holdings in shares of Enbridge by 2.3% during the 3rd quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock worth $518,000 after buying an additional 350 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Shares of Enbridge stock opened at $34.69 on Friday. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The company has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $35.61. The stock has a market capitalization of $73.75 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Analysts forecast that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.81%. Enbridge’s payout ratio is presently 136.04%.

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.