The Manufacturers Life Insurance Company Sells 571,360 Shares of Enbridge Inc. (NYSE:ENB)

The Manufacturers Life Insurance Company trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,228,809 shares of the pipeline company’s stock after selling 571,360 shares during the quarter. Enbridge accounts for about 0.7% of The Manufacturers Life Insurance Company’s holdings, making the stock its 24th biggest holding. The Manufacturers Life Insurance Company owned approximately 0.88% of Enbridge worth $817,159,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. McIlrath & Eck LLC increased its position in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC increased its position in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.4 %

Shares of NYSE ENB opened at $46.16 on Monday. 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 business has a fifty day simple moving average of $43.34 and a two-hundred day simple moving average of $42.98. The firm has a market cap of $100.63 billion, a PE ratio of 26.84, a price-to-earnings-growth 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 $46.47.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.64 EPS. Analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 5.88%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge’s payout ratio is 157.56%.

Analyst Ratings Changes

A number of research firms have commented on ENB. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.