Brookstone Capital Management Sells 4,126 Shares of Enbridge Inc. (NYSE:ENB)

Brookstone Capital Management lessened its position in Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,722 shares of the pipeline company’s stock after selling 4,126 shares during the period. Brookstone Capital Management’s holdings in Enbridge were worth $4,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Consolidated Planning Corp bought a new position in shares of Enbridge in the third quarter worth approximately $25,000. Rosenberg Matthew Hamilton bought a new position in shares of Enbridge in the fourth quarter worth approximately $30,000. First Command Financial Services Inc. lifted its position in Enbridge by 153.3% during the fourth quarter. First Command Financial Services Inc. now owns 775 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 469 shares during the period. Rise Advisors LLC bought a new position in Enbridge during the fourth quarter valued at approximately $32,000. Finally, Cassady Schiller Wealth Management LLC bought a new position in Enbridge during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 53.23% of the company’s stock.

ENB opened at $41.25 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. Enbridge Inc. has a 1-year low of $36.21 and a 1-year high of $47.67. The company has a market capitalization of $83.59 billion, a PE ratio of 18.01, a PEG ratio of 2.91 and a beta of 0.77. The firm’s 50 day simple moving average is $44.62 and its two-hundred day simple moving average is $42.98.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last announced its quarterly earnings data on Friday, May 6th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $8.76 billion. Enbridge had a return on equity of 10.40% and a net margin of 12.20%. During the same period last year, the company earned $0.62 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a $0.669 dividend. The ex-dividend date was Thursday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.49%. Enbridge’s dividend payout ratio (DPR) is presently 116.16%.

ENB has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Enbridge from C$58.00 to C$62.00 in a research report on Tuesday, April 19th. US Capital Advisors restated an “overweight” rating on shares of Enbridge in a research report on Wednesday, June 1st. Morgan Stanley increased their price objective on shares of Enbridge from C$60.00 to C$67.00 in a research report on Tuesday, April 26th. StockNews.com initiated coverage on shares of Enbridge in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TD Securities increased their price objective on shares of Enbridge from C$61.00 to C$62.00 in a research report on Monday, May 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.42.

Enbridge Company Profile (Get Rating)

Enbridge Inc 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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