Enbridge Inc. (NYSE:ENB) Shares Sold by QV Investors Inc.

QV Investors Inc. decreased its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531,333 shares of the pipeline company's stock after selling 26,844 shares during the quarter. Enbridge makes up 6.8% of QV Investors Inc.'s portfolio, making the stock its 2nd largest position. QV Investors Inc. owned 0.07% of Enbridge worth $67,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC raised its position in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after buying an additional 1,040,799 shares during the period. Deutsche Bank AG grew its position in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Enbridge during the fourth quarter valued at $909,415,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research reports. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Stock Down 0.2%

Shares of ENB stock traded down $0.08 during trading hours on Tuesday, reaching $47.09. 3,102,532 shares of the company's stock were exchanged, compared to its average volume of 4,056,946. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market cap of $102.65 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.40. The stock's 50 day moving average is $44.98 and its 200-day moving average is $43.77.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the business posted $0.92 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 139.69%.

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.