JARISLOWSKY FRASER Ltd Sells 23,431 Shares of Enbridge Inc. (NYSE:ENB)

JARISLOWSKY FRASER Ltd lessened its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,791,976 shares of the pipeline company's stock after selling 23,431 shares during the quarter. JARISLOWSKY FRASER Ltd owned 0.08% of Enbridge worth $76,018,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Graver Capital Management LLC acquired a new position in Enbridge in the fourth quarter worth about $242,000. Greenline Partners LLC raised its holdings in shares of Enbridge by 1.0% in the 4th quarter. Greenline Partners LLC now owns 335,466 shares of the pipeline company's stock worth $14,234,000 after buying an additional 3,366 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Enbridge by 774.0% during the 4th quarter. Focus Partners Wealth now owns 467,349 shares of the pipeline company's stock worth $19,843,000 after buying an additional 413,875 shares during the period. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in Enbridge in the 4th quarter valued at $1,123,000. Finally, Fiduciary Trust Co grew its position in Enbridge by 7.3% in the fourth quarter. Fiduciary Trust Co now owns 6,873 shares of the pipeline company's stock valued at $292,000 after acquiring an additional 468 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.7 %

Shares of NYSE ENB opened at $46.10 on Friday. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08. 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 50-day moving average of $44.24 and a two-hundred day moving average of $43.31. The company has a market cap of $100.50 billion, a PE ratio of 26.80, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 of this dividend is Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.89%. Enbridge's dividend payout ratio (DPR) is currently 157.56%.

Analyst Ratings Changes

A number of research analysts have issued reports on ENB shares. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, CIBC restated 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.

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