ClearBridge Investments Ltd Sells 21,522 Shares of Enbridge Inc. (NYSE:ENB)

ClearBridge Investments Ltd lessened its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,293,818 shares of the pipeline company's stock after selling 21,522 shares during the quarter. Enbridge accounts for about 1.3% of ClearBridge Investments Ltd's investment portfolio, making the stock its 21st largest position. ClearBridge Investments Ltd owned 0.06% of Enbridge worth $46,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Corient Private Wealth LLC lifted its position in shares of Enbridge by 4.0% during the 4th quarter. Corient Private Wealth LLC now owns 323,217 shares of the pipeline company's stock worth $11,642,000 after buying an additional 12,322 shares during the period. D.A. Davidson & CO. increased its holdings in Enbridge by 5.4% during the 4th quarter. D.A. Davidson & CO. now owns 198,374 shares of the pipeline company's stock valued at $7,145,000 after purchasing an additional 10,233 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Enbridge by 12.0% during the 4th quarter. Clearbridge Investments LLC now owns 19,153,696 shares of the pipeline company's stock valued at $689,916,000 after purchasing an additional 2,046,879 shares in the last quarter. Associated Banc Corp acquired a new stake in Enbridge during the 4th quarter valued at $241,000. Finally, UBS Group AG increased its holdings in Enbridge by 0.3% during the 4th quarter. UBS Group AG now owns 2,426,281 shares of the pipeline company's stock valued at $87,395,000 after purchasing an additional 7,476 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.1 %

Shares of NYSE ENB traded up $0.03 during midday trading on Monday, hitting $36.78. The stock had a trading volume of 2,704,586 shares, compared to its average volume of 5,936,594. The company's 50-day simple moving average is $35.77 and its 200 day simple moving average is $35.31. The firm has a market cap of $78.19 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 3.47 and a beta of 0.83. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a $0.677 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge's dividend payout ratio (DPR) is currently 135.53%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They set a "buy" rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $55.20.

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.