Jennison Associates LLC Increases Stake in Enbridge Inc (NYSE:ENB)

Jennison Associates LLC lifted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,115,434 shares of the pipeline company's stock after buying an additional 116,076 shares during the period. Jennison Associates LLC owned about 0.05% of Enbridge worth $49,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth $261,000. Whittier Trust Co. grew its holdings in Enbridge by 9.1% during the fourth quarter. Whittier Trust Co. now owns 13,372 shares of the pipeline company's stock worth $567,000 after purchasing an additional 1,111 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Enbridge by 875.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 80,714 shares of the pipeline company's stock worth $3,425,000 after purchasing an additional 72,441 shares during the period. Lee Danner & Bass Inc. bought a new position in Enbridge during the fourth quarter worth about $79,000. Finally, TD Private Client Wealth LLC grew its holdings in Enbridge by 1.1% during the fourth quarter. TD Private Client Wealth LLC now owns 100,348 shares of the pipeline company's stock worth $4,257,000 after purchasing an additional 1,053 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ENB shares. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of "Hold" and an average price target of $67.00.

Enbridge Trading Up 0.7%

Shares of ENB stock traded up $0.31 during mid-day trading on Friday, reaching $45.07. The stock had a trading volume of 2,634,204 shares, compared to its average volume of 3,952,758. The stock's 50-day moving average price is $45.37 and its two-hundred day moving average price is $44.44. Enbridge Inc has a 52-week low of $36.32 and a 52-week high of $47.44. The firm has a market capitalization of $98.27 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 4.24 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results 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 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. Equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.03%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 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.