Wellington Management Group LLP Sells 7,536,098 Shares of Enbridge Inc. (NYSE:ENB)

Wellington Management Group LLP lowered its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 86.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,142,631 shares of the pipeline company's stock after selling 7,536,098 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Enbridge worth $46,468,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENB. Cibc World Market Inc. increased its stake in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc increased its stake in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after acquiring an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company's stock valued at $821,331,000 after acquiring an additional 827,540 shares during the last quarter. Toronto Dominion Bank increased its stake in Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company's stock valued at $665,655,000 after acquiring an additional 644,526 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.9 %

Shares of NYSE:ENB traded down $0.38 on Thursday, reaching $41.96. 1,235,703 shares of the company traded hands, compared to its average volume of 4,867,861. The business's 50-day simple moving average is $41.97 and its 200 day simple moving average is $39.24. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13. The stock has a market capitalization of $91.39 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the firm earned $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. Enbridge's payout ratio is presently 124.07%.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $63.00.

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.