Enbridge Inc. (NYSE:ENB) Shares Sold by Lincoln National Corp

Lincoln National Corp reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,399 shares of the pipeline company’s stock after selling 13,162 shares during the period. Lincoln National Corp’s holdings in Enbridge were worth $1,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Enbridge by 98.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock valued at $54,578,000 after purchasing an additional 815,850 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its position in Enbridge by 81.1% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after acquiring an additional 102,850 shares during the last quarter. Clarius Group LLC boosted its position in shares of Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 1,617 shares during the period. Private Trust Co. NA lifted its stake in Enbridge by 5.7% in the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of ENB opened at $37.24 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average is $35.41 and its two-hundred day moving average is $35.02. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.22. The firm has a market capitalization of $79.17 billion, a PE ratio of 17.73, a P/E/G ratio of 3.43 and a beta of 0.87.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.27%. Enbridge’s dividend payout ratio is 127.14%.

Analyst Upgrades and Downgrades

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

About Enbridge

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.