UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,195,076 shares of the pipeline company's stock after selling 552,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Enbridge worth $93,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Enbridge during the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership grew its stake in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after acquiring an additional 9,621,425 shares in the last quarter. Blackstone Inc. grew its stake in Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares in the last quarter. Deutsche Bank AG grew its stake in Enbridge by 13.9% during 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Enbridge during the 4th quarter valued at about $180,941,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE:ENB traded down $0.04 during mid-day trading on Tuesday, reaching $46.02. The stock had a trading volume of 5,138,547 shares, compared to its average volume of 4,066,753. 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 firm has a market capitalization of $100.33 billion, a price-to-earnings ratio of 26.76, a PEG 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 business has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $43.64.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The firm 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 firm earned $0.92 earnings per share. On average, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 dividend on an annualized basis and a yield of 5.90%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is presently 139.69%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENB. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating 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. Finally, Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Six 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 company presently has a consensus rating of "Hold" and an average target price of $67.00.

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.