Russell Investments Group Ltd. Sells 311,240 Shares of Enbridge Inc. (NYSE:ENB)

Russell Investments Group Ltd. trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,415,936 shares of the pipeline company’s stock after selling 311,240 shares during the quarter. Russell Investments Group Ltd.’s holdings in Enbridge were worth $123,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC lifted its position in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. lifted its holdings in Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Enbridge during the 4th quarter worth approximately $34,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 1.2 %

Shares of NYSE:ENB traded down $0.44 during midday trading on Friday, reaching $35.82. The company’s stock had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The firm has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a 50 day moving average price of $35.19 and a two-hundred day moving average price of $34.80. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio is 129.05%.

Analyst Ratings Changes

Several analysts recently weighed in on ENB shares. Stifel Nicolaus started coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

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.