Price T Rowe Associates Inc. MD Sells 3,161,649 Shares of Enbridge Inc. (NYSE:ENB)

Price T Rowe Associates Inc. MD cut its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,831,628 shares of the pipeline company's stock after selling 3,161,649 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.36% of Enbridge worth $332,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. GQG Partners LLC grew its holdings in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares during the period. Norges Bank purchased a new position in Enbridge during the 4th quarter valued at about $909,415,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock valued at $655,556,000 after buying an additional 176,733 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Raymond James upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

NYSE:ENB traded up $0.01 during mid-day trading on Tuesday, reaching $46.65. The stock had a trading volume of 1,591,362 shares, compared to its average volume of 4,242,592. The stock has a 50-day simple moving average of $43.42 and a two-hundred day simple moving average of $43.02. The stock has a market capitalization of $101.69 billion, a PE ratio of 27.11, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $46.85. 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 issued its quarterly earnings data 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. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the business earned $0.64 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.82%. Enbridge's dividend payout ratio (DPR) is 157.56%.

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.