Legal & General Group Plc Has $942.81 Million Position in Enbridge Inc $ENB

Legal & General Group Plc boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,677,864 shares of the pipeline company’s stock after purchasing an additional 858,323 shares during the quarter. Legal & General Group Plc owned about 0.90% of Enbridge worth $942,806,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in Enbridge by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after purchasing an additional 221,976 shares during the period. Trajan Wealth LLC boosted its holdings in Enbridge by 15.3% during the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after acquiring an additional 106,784 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after acquiring an additional 24,165 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after acquiring an additional 41,601 shares during the last quarter. Finally, Viking Fund Management LLC boosted its holdings in Enbridge by 35.2% during the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after acquiring an additional 61,500 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $58.07 on Monday. The company’s 50-day moving average is $54.21 and its 200 day moving average is $50.79. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The company has a market capitalization of $126.80 billion, a P/E ratio of 27.26 and a beta of 0.59. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the firm earned $1.03 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.7%. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.