Auto Owners Insurance Co Sells 175,015 Shares of Enbridge Inc (NYSE:ENB)

Auto Owners Insurance Co lessened its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 97.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,095 shares of the pipeline company's stock after selling 175,015 shares during the quarter. Auto Owners Insurance Co's holdings in Enbridge were worth $181,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ENB. Norges Bank bought a new stake in shares of Enbridge in the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership boosted its stake in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. lifted its holdings in shares of Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after buying an additional 4,956,379 shares during the period. Deutsche Bank AG lifted its holdings in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after buying an additional 4,426,684 shares during the period. Finally, Vanguard Group Inc. lifted its position in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ENB. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $45.22 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The stock has a market cap of $98.59 billion, a P/E ratio of 23.31, a PEG ratio of 4.18 and a beta of 0.79. The company has a 50-day moving average of $45.37 and a two-hundred day moving average of $44.45. Enbridge Inc has a 12-month low of $36.32 and a 12-month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. As a group, research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.01%. Enbridge's dividend payout ratio is 140.21%.

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.

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