Enbridge Inc. (NYSE:ENB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,415,936 shares of the pipeline company’s stock after selling 311,240 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Enbridge worth $123,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ENB. Vanguard Group Inc. grew its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Wellington Management Group LLP grew its holdings in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. TD Asset Management Inc grew its holdings in shares of Enbridge by 2.2% during the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after purchasing an additional 664,057 shares during the period. Bank of Nova Scotia grew its holdings in shares of Enbridge by 5.1% during the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after purchasing an additional 1,353,753 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Enbridge by 13.9% during the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after purchasing an additional 2,756,079 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock traded down $0.44 during trading hours on Friday, hitting $35.82. 4,385,230 shares of the stock traded hands, compared to its average volume of 6,269,155. The stock has a 50-day simple moving average of $35.19 and a 200 day simple moving average of $34.80. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The company has a market cap of $76.15 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.40 and a beta of 0.84. 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 announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Equities analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business 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 $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is 129.05%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.20.

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.