Enbridge Inc. (NYSE:ENB) Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON decreased its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 91.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,402 shares of the pipeline company's stock after selling 907,567 shares during the quarter. BROOKFIELD Corp ON's holdings in Enbridge were worth $3,496,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. apricus wealth LLC boosted its stake in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after buying an additional 220 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 230 shares during the period. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in shares of Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after purchasing an additional 240 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENB has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Price Performance

Shares of Enbridge stock traded up $0.56 during trading on Wednesday, hitting $46.72. 2,548,357 shares of the company were exchanged, compared to its average volume of 4,159,419. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average price of $44.08 and a 200 day moving average price of $43.24. The stock has a market capitalization of $101.85 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 157.56%.

Enbridge Company 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.