BNP Paribas Financial Markets Has $1.49 Million Stock Position in Enbridge Inc. (NYSE:ENB)

BNP Paribas Financial Markets cut its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,002 shares of the pipeline company's stock after selling 18,465 shares during the period. BNP Paribas Financial Markets' holdings in Enbridge were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Enbridge during the 4th quarter worth about $909,415,000. Arrowstreet Capital Limited Partnership lifted its position 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 worth $510,816,000 after buying an additional 9,621,425 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Enbridge during the 4th quarter worth about $180,941,000. Vanguard Group Inc. lifted its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Enbridge by 30.5% during the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock worth $571,389,000 after buying an additional 3,091,442 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ENB shares. Royal Bank of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Five 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 an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Down 0.1%

Enbridge stock opened at $44.90 on Monday. The stock has a market cap of $97.87 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.55 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 $47.08. The company's 50-day moving average price is $44.49 and its two-hundred day moving average price is $43.47.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analysts' expectations 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 firm earned $0.92 EPS. As a group, analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This is a boost 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 of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio is currently 139.69%.

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.

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.