Enbridge Inc. (NYSE:ENB) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 80.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 960,543 shares of the pipeline company’s stock after selling 3,838,802 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Enbridge were worth $40,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Albion Financial Group UT acquired a new position in Enbridge during the fourth quarter worth approximately $29,000. Wintrust Investments LLC grew its stake in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Enbridge in the 4th quarter worth $42,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Enbridge in the 4th quarter worth $47,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.5%

NYSE ENB opened at $45.60 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The business has a 50 day moving average price of $44.59 and a two-hundred day moving average price of $43.52. The stock has a market cap of $99.41 billion, a PE ratio of 26.51, a P/E/G ratio of 3.92 and a beta of 0.84.

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

Enbridge Increases Dividend

The firm 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. The ex-dividend date is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.96%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 139.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” 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.