The Manufacturers Life Insurance Company Trims Stake in Enbridge Inc. (NYSE:ENB)

The Manufacturers Life Insurance Company decreased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,228,809 shares of the pipeline company's stock after selling 571,360 shares during the period. Enbridge makes up about 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 24th largest position. The Manufacturers Life Insurance Company owned approximately 0.88% of Enbridge worth $817,159,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Metis Global Partners LLC boosted its holdings in Enbridge by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after purchasing an additional 7,986 shares during the last quarter. Aviso Financial Inc. lifted its position in shares of Enbridge by 4.3% during the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock worth $60,152,000 after buying an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after buying an additional 49,800 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

Enbridge stock remained flat at $46.64 during mid-day trading on Tuesday. 2,396,409 shares of the company were exchanged, compared to its average volume of 4,225,038. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $46.85. The firm has a market cap of $101.68 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average of $43.52 and a two-hundred day moving average of $43.04.

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 for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 5.82%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge's payout ratio is currently 157.56%.

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.