Healthcare of Ontario Pension Plan Trust Fund Buys 2,836,000 Shares of Enbridge Inc $ENB

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 787.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,196,000 shares of the pipeline company’s stock after purchasing an additional 2,836,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Enbridge were worth $173,189,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Bollard Group LLC increased its position in shares of Enbridge by 7.6% during the first quarter. Bollard Group LLC now owns 214,621 shares of the pipeline company’s stock valued at $11,620,000 after buying an additional 15,173 shares during the period. Modern Wealth Management LLC lifted its holdings in Enbridge by 6.6% in the first quarter. Modern Wealth Management LLC now owns 18,851 shares of the pipeline company’s stock worth $1,011,000 after buying an additional 1,169 shares during the period. Sei Investments Co. lifted its holdings in Enbridge by 39.6% in the first quarter. Sei Investments Co. now owns 210,994 shares of the pipeline company’s stock worth $11,423,000 after buying an additional 59,852 shares during the period. Davis R M Inc. lifted its holdings in Enbridge by 33.6% in the first quarter. Davis R M Inc. now owns 5,951 shares of the pipeline company’s stock worth $322,000 after buying an additional 1,495 shares during the period. Finally, Lido Advisors LLC boosted its position in Enbridge by 390.0% during the 1st quarter. Lido Advisors LLC now owns 115,082 shares of the pipeline company’s stock valued at $6,230,000 after acquiring an additional 91,598 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Trading Up 0.8%

NYSE:ENB opened at $56.84 on Friday. The firm has a market capitalization of $124.13 billion, a P/E ratio of 26.68 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a one year low of $44.58 and a one year high of $58.45. The company’s 50-day simple moving average is $55.73 and its 200 day simple moving average is $53.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating 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 business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors 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 annualized dividend and a dividend yield of 6.8%. Enbridge’s dividend payout ratio is presently 133.80%.

Enbridge 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.