Northern Trust Corp Boosts Position in Enbridge Inc. (NYSE:ENB)

Northern Trust Corp raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 42.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,538,754 shares of the pipeline company’s stock after buying an additional 756,762 shares during the period. Northern Trust Corp owned about 0.12% of Enbridge worth $107,719,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Barclays PLC increased its holdings in Enbridge by 8.3% in the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after purchasing an additional 44,675 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enbridge in the third quarter valued at about $1,216,000. JPMorgan Chase & Co. raised its holdings in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the period. CWA Asset Management Group LLC raised its stake in shares of Enbridge by 7.3% during the fourth quarter. CWA Asset Management Group LLC now owns 29,183 shares of the pipeline company’s stock valued at $1,238,000 after purchasing an additional 1,993 shares during the period. Finally, Bard Financial Services Inc. lifted its position in shares of Enbridge by 0.6% during the fourth quarter. Bard Financial Services Inc. now owns 124,290 shares of the pipeline company’s stock worth $5,273,000 after purchasing an additional 700 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Up 0.8 %

Shares of NYSE ENB opened at $46.86 on Friday. The stock has a market capitalization of $102.16 billion, a P/E ratio of 27.24, a PEG ratio of 3.92 and a beta of 0.80. The stock’s 50 day moving average price is $43.82 and its two-hundred day moving average price is $43.15. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business posted $0.64 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 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.