Enbridge Inc $ENB Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 98.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,910,630 shares of the pipeline company’s stock after buying an additional 950,087 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Enbridge worth $84,575,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Capital Investment Counsel Inc grew its position in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after acquiring an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after purchasing an additional 226 shares in the last quarter. Loudon Investment Management LLC grew its holdings in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 243 shares in the last quarter. Finally, Hardin Capital Partners LLC grew its stake in shares of Enbridge by 2.7% during the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ENB shares. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Argus raised their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $47.9450 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The business has a 50 day moving average of $45.69 and a two-hundred day moving average of $44.86. Enbridge Inc has a 52 week low of $39.25 and a 52 week high of $48.29. The company has a market cap of $104.55 billion, a P/E ratio of 23.62, a PEG ratio of 4.38 and a beta of 0.79.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is presently 134.98%.

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.