BROOKFIELD Corp ON Has $3.50 Million Stake in Enbridge Inc. (NYSE:ENB)

BROOKFIELD Corp ON trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 91.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,402 shares of the pipeline company’s stock after selling 907,567 shares during the period. BROOKFIELD Corp ON’s holdings in Enbridge were worth $3,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Norges Bank acquired a new position in shares of Enbridge in the 4th quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in Enbridge by 396.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. lifted its stake in Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares during the period. Raymond James Financial Inc. bought a new position in Enbridge during the fourth quarter worth about $180,941,000. Finally, Vanguard Group Inc. grew 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 during the period. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased 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. Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $46.59 on Tuesday. The firm has a market cap of $101.57 billion, a P/E ratio of 27.09, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm’s 50 day moving average price is $43.92 and its two-hundred day moving average price is $43.19.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal 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 given a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend 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.