Enbridge Inc. (NYSE:ENB) Holdings Trimmed by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,545 shares of the pipeline company's stock after selling 9,455 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Enbridge were worth $2,356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wintrust Investments LLC raised 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 valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge during the 4th quarter valued at approximately $42,000. Vision Financial Markets LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at approximately $47,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at approximately $52,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. 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. CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Performance

ENB traded up $0.65 during trading on Friday, reaching $46.50. 4,106,198 shares of the company were exchanged, compared to its average volume of 4,060,241. The stock has a market cap of $101.37 billion, a P/E ratio of 27.03, a PEG ratio of 3.92 and a beta of 0.84. The firm has a 50 day moving average of $44.93 and a 200 day moving average of $43.73. 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 52 week low of $34.60 and a 52 week high of $47.08.

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 (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.679 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. Enbridge's dividend payout ratio is presently 139.69%.

About Enbridge

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.