Enbridge Inc. (NYSE:ENB) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,272,510 shares of the pipeline company’s stock after selling 27,526 shares during the period. Franklin Resources Inc. owned 0.06% of Enbridge worth $53,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after buying an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. lifted 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 buying an additional 3,693,495 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 period. Finally, National Bank of Canada FI grew its position in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ENB shares. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Down 0.3 %

ENB stock opened at $41.40 on Wednesday. The stock has a market capitalization of $90.17 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94. The company has a fifty day moving average of $42.05 and a 200-day moving average of $39.42. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, analysts expect that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.47%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

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.