Enbridge Inc. (NYSE:ENB) Stake Lessened by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,344 shares of the pipeline company's stock after selling 11,600 shares during the period. 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).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC grew its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC increased its stake in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after acquiring an additional 611 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its position in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 580 shares during the period. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge during the 4th quarter valued at approximately $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.03 during trading hours on Friday, hitting $44.90. 4,018,083 shares of the company were exchanged, compared to its average volume of 4,104,423. The business has a 50-day moving average of $44.44 and a 200-day moving average of $43.40. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $97.87 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.05%. The ex-dividend date is Thursday, May 15th. Enbridge's dividend payout ratio is presently 139.69%.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge has an average rating of "Hold" and an average target price of $67.00.

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.