Price T Rowe Associates Inc. MD Sells 3,161,649 Shares of Enbridge Inc. (NYSE:ENB)

Price T Rowe Associates Inc. MD lessened its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,831,628 shares of the pipeline company's stock after selling 3,161,649 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.36% of Enbridge worth $332,297,000 as of its most recent SEC filing.

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

Enbridge Price Performance

Enbridge stock traded down $0.16 during trading hours on Wednesday, reaching $46.48. 988,691 shares of the stock were exchanged, compared to its average volume of 4,212,453. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $46.85. The company has a market cap of $101.33 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The stock has a 50 day moving average of $43.52 and a two-hundred day moving average of $43.04.

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

Enbridge Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, May 15th. 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 5.84%. Enbridge's dividend payout ratio (DPR) is 157.56%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ENB. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Raymond James raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.