UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 552,019 Shares of Enbridge Inc. (NYSE:ENB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,195,076 shares of the pipeline company's stock after selling 552,019 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Enbridge worth $93,137,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ENB. Metis Global Partners LLC boosted its stake in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after acquiring an additional 7,986 shares during the last quarter. Aviso Financial Inc. boosted its stake in Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock worth $60,152,000 after acquiring an additional 58,176 shares during the last quarter. Vanguard Group Inc. raised its holdings in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the period. Sound Income Strategies LLC raised its holdings in Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after buying an additional 49,800 shares during the period. Finally, Greenland Capital Management LP raised its holdings in Enbridge by 189.1% during the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock worth $1,502,000 after buying an additional 23,160 shares during the period. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented 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 reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of "Hold" and an average target price of $67.00.

Enbridge Stock Up 0.3%

ENB traded up $0.14 during trading on Thursday, reaching $45.71. 870,640 shares of the stock were exchanged, compared to its average volume of 4,053,279. The stock has a market cap of $99.64 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The stock's 50 day moving average price is $44.85 and its two-hundred day moving average price is $43.67. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Equities 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. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Thursday, May 15th. Enbridge's payout ratio is currently 139.69%.

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.