ProShare Advisors LLC Decreases Stake in Enbridge Inc. (NYSE:ENB)

ProShare Advisors LLC lessened its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,324 shares of the pipeline company's stock after selling 15,490 shares during the period. ProShare Advisors LLC's holdings in Enbridge were worth $10,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Albion Financial Group UT bought a new stake in Enbridge in the fourth quarter valued at about $29,000. Wintrust Investments LLC grew its position in Enbridge by 47.8% in the fourth 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 last quarter. GeoWealth Management LLC increased its position in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after acquiring an additional 611 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in Enbridge in the 4th quarter worth about $42,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Up 1.5%

ENB traded up $0.66 during midday trading on Tuesday, reaching $45.60. 4,095,743 shares of the company were exchanged, compared to its average volume of 4,079,613. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company's fifty day moving average price is $44.59 and its 200 day moving average price is $43.52. The company has a market cap of $99.41 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company 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 10.16% and a net margin of 10.04%. 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 business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.96%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 139.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENB shares. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.00.

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.