Enbridge Inc. (NYSE:ENB) Stock Position Increased by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,692,089 shares of the pipeline company's stock after buying an additional 103,008 shares during the quarter. Enbridge makes up about 1.0% of Alberta Investment Management Corp's holdings, making the stock its 10th biggest holding. Alberta Investment Management Corp owned about 0.17% of Enbridge worth $156,622,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its holdings in Enbridge by 9.0% in the 4th quarter. Global Retirement Partners LLC now owns 43,974 shares of the pipeline company's stock worth $1,866,000 after purchasing an additional 3,622 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in Enbridge in the 4th quarter worth $368,000. Kestra Investment Management LLC bought a new position in Enbridge in the 4th quarter worth $104,000. Venturi Wealth Management LLC raised its holdings in Enbridge by 157.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company's stock worth $125,000 after purchasing an additional 1,802 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Enbridge by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 175,703 shares of the pipeline company's stock worth $7,455,000 after purchasing an additional 1,280 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.6 %

ENB stock traded down $0.25 during trading on Friday, hitting $41.74. 6,521,927 shares of the stock traded hands, compared to its average volume of 4,245,049. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The firm's 50 day moving average is $43.35 and its two-hundred day moving average is $41.89. The stock has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is 155.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Hold" and a consensus target price of $67.00.

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.