Voya Investment Management LLC Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Voya Investment Management LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 46.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,887 shares of the pipeline company’s stock after selling 9,368 shares during the quarter. Voya Investment Management LLC’s holdings in Enbridge were worth $462,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Albion Financial Group UT purchased a new position in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC boosted its holdings in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. GeoWealth Management LLC increased its position in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. 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, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $46.10 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $100.50 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The firm has a 50-day moving average price of $44.24 and a two-hundred day moving average price of $43.30. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08.

Enbridge (NYSE:ENB) (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, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.89%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 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.