Financial Counselors Inc. Sells 29,696 Shares of Enbridge Inc (NYSE:ENB)

Financial Counselors Inc. lowered its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 679,022 shares of the pipeline company's stock after selling 29,696 shares during the period. Financial Counselors Inc.'s holdings in Enbridge were worth $30,087,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

ENB has been the subject of a number of research reports. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Stock Up 0.1%

Shares of ENB stock traded up $0.06 on Tuesday, hitting $44.21. The stock had a trading volume of 2,828,443 shares, compared to its average volume of 3,952,646. The business has a 50 day moving average of $45.68 and a 200 day moving average of $44.29. The stock has a market cap of $96.40 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a 12-month low of $35.10 and a 12-month high of $47.44.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the prior year, the company 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 company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 6.14%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio is 140.21%.

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.