Jennison Associates LLC Sells 8,618 Shares of Enbridge Inc. (NYSE:ENB)

Jennison Associates LLC lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 582,062 shares of the pipeline company’s stock after selling 8,618 shares during the quarter. Jennison Associates LLC’s holdings in Enbridge were worth $20,949,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its stake in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Enbridge by 24.6% during the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Enbridge by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares in the last quarter. Marino Stram & Associates LLC increased its stake in shares of Enbridge by 1.6% during the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its stake in shares of Enbridge by 2.3% during the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.7 %

Shares of Enbridge stock opened at $36.27 on Friday. The stock has a market capitalization of $77.11 billion, a PE ratio of 17.27, a P/E/G ratio of 3.34 and a beta of 0.84. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company’s fifty day simple moving average is $35.16 and its 200-day simple moving average is $34.78. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 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. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. 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 7.47%. The ex-dividend date is Tuesday, May 14th. Enbridge’s payout ratio is currently 129.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” 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. According to MarketBeat, the stock has an average 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.