Jennison Associates LLC Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

Jennison Associates LLC reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,062 shares of the pipeline company’s stock after selling 8,618 shares during the period. Jennison Associates LLC’s holdings in Enbridge were worth $20,949,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ENB. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC boosted its holdings in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of several recent research reports. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

ENB opened at $36.27 on Friday. The firm has a market capitalization of $77.11 billion, a PE ratio of 17.27, a PEG ratio of 3.34 and a beta of 0.84. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The firm’s 50-day moving average price is $35.16 and its 200 day moving average price is $34.78. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, sell-side analysts expect 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 Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.47%. Enbridge’s payout ratio is presently 129.05%.

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.