First Manhattan CO. LLC. Sells 73,256 Shares of Enbridge Inc. (NYSE:ENB)

First Manhattan CO. LLC. cut its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,079 shares of the pipeline company's stock after selling 73,256 shares during the period. First Manhattan CO. LLC.'s holdings in Enbridge were worth $38,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter worth about $29,000. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% in 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 stake in shares of Enbridge by 436.4% in 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. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after acquiring an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of Enbridge in the 4th quarter valued at approximately $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

ENB traded up $0.32 during midday trading on Friday, reaching $46.10. The company's stock had a trading volume of 4,541,922 shares, compared to its average volume of 4,138,844. The stock has a market cap of $100.50 billion, a P/E ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. The company has a fifty day simple moving average of $44.24 and a 200 day simple moving average of $43.33. 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 twelve month low of $34.60 and a twelve month high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (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 firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter last year, the firm posted $0.92 EPS. Research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company 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 dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is presently 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.