Enbridge Inc. (NYSE:ENB) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,030,940 shares of the pipeline company's stock after selling 126,680 shares during the quarter. First Trust Advisors LP's holdings in Enbridge were worth $43,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC increased its holdings in 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 purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC raised its position in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after purchasing an additional 580 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.2 %

Shares of ENB traded up $0.08 during midday trading on Monday, reaching $46.27. The stock had a trading volume of 667,592 shares, compared to its average volume of 4,245,323. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company's fifty day simple moving average is $43.34 and its two-hundred day simple moving average is $42.98. The company has a market cap of $100.86 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $46.47.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the firm posted $0.64 EPS. Equities research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced 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. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.87%. Enbridge's dividend payout ratio is presently 157.56%.

Wall Street Analysts Forecast Growth

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