Baird Financial Group Inc. Boosts Position in Enbridge Inc (ENB)

Baird Financial Group Inc. increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2,371.9% during the first quarter, Holdings Channel reports. The institutional investor owned 172,907 shares of the pipeline company’s stock after buying an additional 165,912 shares during the period. Baird Financial Group Inc.’s holdings in Enbridge were worth $7,234,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. GRT Capital Partners L.L.C. boosted its stake in Enbridge by 0.6% in the fourth quarter. GRT Capital Partners L.L.C. now owns 15,456 shares of the pipeline company’s stock valued at $649,000 after buying an additional 88 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Enbridge by 0.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 35,126 shares of the pipeline company’s stock valued at $1,470,000 after buying an additional 126 shares in the last quarter. Capital Asset Advisory Services LLC boosted its stake in Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock valued at $282,000 after buying an additional 143 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in Enbridge by 8.8% in the first quarter. Atwood & Palmer Inc. now owns 2,721 shares of the pipeline company’s stock valued at $114,000 after buying an additional 221 shares in the last quarter. Finally, Warren Averett Asset Management LLC boosted its stake in Enbridge by 6.0% in the first quarter. Warren Averett Asset Management LLC now owns 6,684 shares of the pipeline company’s stock valued at $280,000 after buying an additional 376 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Shares of Enbridge Inc (NYSE:ENB) opened at 38.62 on Wednesday. The firm has a market capitalization of $63.29 billion, a PE ratio of 43.30 and a beta of 0.61. Enbridge Inc has a 1-year low of $38.15 and a 1-year high of $45.77. The firm has a 50-day moving average of $39.95 and a 200-day moving average of $41.63.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were paid a dividend of $0.4435 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Thursday, May 11th. Enbridge’s dividend payout ratio (DPR) is currently 208.14%.

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Several analysts recently commented on the stock. Wells Fargo & Company restated a “market perform” rating on shares of Enbridge in a report on Friday, March 31st. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Thursday, February 16th. Morgan Stanley assumed coverage on shares of Enbridge in a report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target for the company. Wolfe Research assumed coverage on shares of Enbridge in a report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target for the company. Finally, Credit Suisse Group assumed coverage on shares of Enbridge in a report on Tuesday, March 14th. They set an “outperform” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Enbridge currently has an average rating of “Buy” and an average price target of $55.22.

About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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