Enbridge Inc. (NYSE:ENB) Shares Sold by Man Group plc

Man Group plc lessened its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,114 shares of the pipeline company's stock after selling 137,520 shares during the quarter. Man Group plc's holdings in Enbridge were worth $5,095,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Enbridge in the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership grew its stake in Enbridge by 396.7% during the fourth 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 during the period. Blackstone Inc. increased its position in shares of 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 acquiring an additional 4,956,379 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Enbridge by 13.9% in 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 acquiring an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Enbridge during the 4th quarter valued at $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.9%

NYSE ENB traded up $0.87 during mid-day trading on Monday, reaching $46.04. 5,087,231 shares of the company's stock traded hands, compared to its average volume of 4,062,448. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08. The company has a fifty day simple moving average of $44.74 and a 200-day simple moving average of $43.62. The company has a market cap of $100.37 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 3.92 and a beta of 0.84.

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, topping analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company earned $0.92 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.90%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 139.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Enbridge has an average rating of "Hold" and a consensus target price of $67.00.

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.