Enbridge Inc (NYSE:ENB) Stake Reduced by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in shares of Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,456,653 shares of the pipeline company’s stock after selling 3,520 shares during the period. Enbridge accounts for 2.2% of Intact Investment Management Inc.’s portfolio, making the stock its 8th biggest position. Intact Investment Management Inc. owned approximately 0.07% of Enbridge worth $64,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC boosted its holdings in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG boosted its holdings in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Norges Bank bought a new stake in Enbridge in the fourth quarter worth $909,415,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $44.71 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. Enbridge Inc has a 52 week low of $34.61 and a 52 week high of $47.44. The business has a 50-day simple moving average of $45.80 and a two-hundred day simple moving average of $44.05. The stock has a market cap of $97.47 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 4.24 and a beta of 0.81.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same quarter last year, the business posted $0.92 earnings per share. On average, analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 6.08%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 139.69%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of $67.00.

Read Our Latest Research Report on Enbridge

Enbridge Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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