Enbridge Inc $ENB Holdings Boosted by USS Investment Management Ltd

USS Investment Management Ltd raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 410,049 shares of the pipeline company’s stock after purchasing an additional 12,958 shares during the quarter. USS Investment Management Ltd’s holdings in Enbridge were worth $22,196,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. MIdWestOne Financial Group Inc. raised its position in Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares during the period. Sumitomo Life Insurance Co. lifted its stake in Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after acquiring an additional 205 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in Enbridge by 4.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 208 shares during the period. Blue Fin Capital Inc. boosted its position in Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after acquiring an additional 213 shares during the period. Finally, Guinness Atkinson Asset Management Inc grew its stake in Enbridge by 3.4% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock valued at $309,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ENB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Royal Bank Of Canada increased their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

Shares of ENB stock opened at $54.24 on Wednesday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The stock’s 50-day moving average is $55.21 and its two-hundred day moving average is $52.28. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market cap of $118.46 billion, a P/E ratio of 25.46 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the previous year, the company earned $1.03 EPS. Analysts predict that Enbridge Inc will post 2.16 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. Enbridge’s payout ratio is 133.80%.

Enbridge Company Profile

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.