Hennion & Walsh Asset Management Inc. Has $343,000 Position in Enbridge Inc. (NYSE:ENB)

Hennion & Walsh Asset Management Inc. lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,489 shares of the pipeline company’s stock after selling 510 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Enbridge were worth $343,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge in the fourth quarter worth $25,000. Baystate Wealth Management LLC lifted its position in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge during the 4th quarter worth about $28,000. Financial Gravity Asset Management Inc. grew its holdings in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares in the last quarter. Finally, PFS Partners LLC increased its position in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $35.89 on Thursday. The stock has a market capitalization of $76.57 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.34 and a beta of 0.92. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The stock has a 50 day moving average price of $36.02 and a 200 day moving average price of $35.63. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating 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 business had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal 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 issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.55%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend 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.