Enbridge Inc. (NYSE:ENB) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario decreased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,344 shares of the pipeline company's stock after selling 11,600 shares during the quarter. Investment Management Corp of Ontario's holdings in Enbridge were worth $11,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter valued at $29,000. Wintrust Investments LLC boosted its holdings 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 period. GeoWealth Management LLC increased its position in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its position in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENB. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Price Performance

Shares of ENB stock traded down $0.19 during trading hours on Wednesday, hitting $44.38. The stock had a trading volume of 854,281 shares, compared to its average volume of 4,137,216. The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The stock's 50-day moving average price is $44.34 and its two-hundred day moving average price is $43.36. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the company posted $0.92 EPS. Equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.12%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

About Enbridge

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.