Addenda Capital Inc. Sells 122,179 Shares of Enbridge Inc. (NYSE:ENB)

Addenda Capital Inc. lessened its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,475,038 shares of the pipeline company's stock after selling 122,179 shares during the quarter. Enbridge accounts for approximately 3.1% of Addenda Capital Inc.'s investment portfolio, making the stock its 9th biggest position. Addenda Capital Inc. owned about 0.07% of Enbridge worth $65,359,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. KPP Advisory Services LLC raised its holdings in Enbridge by 4.2% during the 4th quarter. KPP Advisory Services LLC now owns 5,970 shares of the pipeline company's stock valued at $253,000 after buying an additional 242 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in Enbridge by 2.0% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company's stock valued at $541,000 after purchasing an additional 251 shares during the period. Knuff & Co LLC increased its stake in shares of Enbridge by 12.6% in the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after acquiring an additional 252 shares in the last quarter. Finally, Hardin Capital Partners LLC boosted its holdings in shares of Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock valued at $423,000 after acquiring an additional 252 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Down 0.2%

Shares of ENB stock traded down $0.08 during mid-day trading on Tuesday, hitting $47.09. 3,102,532 shares of the stock traded hands, compared to its average volume of 4,053,927. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market cap of $102.65 billion, a P/E ratio of 27.38, a P/E/G ratio of 3.92 and a beta of 0.84. The stock's fifty day moving average is $44.98 and its two-hundred day moving average is $43.77.

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 (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date of this dividend was Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.77%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

Analysts Set New Price Targets

ENB has been the topic of several recent research reports. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and a consensus target price of $67.00.

Enbridge 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.