Enbridge Inc. (NYSE:ENB) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd trimmed its holdings in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,802,524 shares of the pipeline company’s stock after selling 71,512 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Enbridge were worth $101,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ENB. Canoe Financial LP increased its holdings in shares of Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Wellington Management Group LLP increased its holdings in Enbridge by 630.3% in 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 acquiring an additional 28,076,386 shares in the last quarter. Norges Bank purchased a new stake in Enbridge in the 4th quarter worth $714,662,000. Vanguard Group Inc. increased its holdings in Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Enbridge by 36.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after acquiring an additional 2,814,200 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.20.

View Our Latest Stock Analysis on ENB

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.27 during mid-day trading on Monday, hitting $36.24. 3,053,300 shares of the company were exchanged, compared to its average volume of 5,942,244. The stock has a 50 day simple moving average of $35.83 and a 200-day simple moving average of $35.41. The firm has a market cap of $77.04 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 3.43 and a beta of 0.86. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.47%. Enbridge’s dividend payout ratio is presently 136.04%.

Enbridge Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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