Enbridge Inc. (NYSE:ENB) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,372,192 shares of the pipeline company’s stock after selling 252,600 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.11% of Enbridge worth $100,631,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ENB. Metis Global Partners LLC grew its stake in shares of Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares in the last quarter. Aviso Financial Inc. increased its stake in 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 during the period. Vanguard Group Inc. lifted its holdings in Enbridge by 4.1% in 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. Sound Income Strategies LLC boosted its position in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares during the last quarter. Finally, Greenland Capital Management LP grew its stake in shares of Enbridge by 189.1% during the fourth quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock valued at $1,502,000 after acquiring an additional 23,160 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ENB shares. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. 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. Finally, Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Trading Down 3.4%

Shares of ENB stock opened at $44.53 on Tuesday. The stock has a fifty day moving average of $44.28 and a two-hundred day moving average of $43.35. The firm has a market capitalization of $97.08 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 139.69%.

Enbridge 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.