Caisse DE Depot ET Placement DU Quebec Grows Stake in Enbridge Inc. (NYSE:ENB)

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,885,877 shares of the pipeline company's stock after acquiring an additional 47,506 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of Enbridge worth $164,843,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems boosted its stake in Enbridge by 2.6% during the 4th quarter. Utah Retirement Systems now owns 244,052 shares of the pipeline company's stock valued at $10,353,000 after purchasing an additional 6,300 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Enbridge by 37.5% during the fourth quarter. Lido Advisors LLC now owns 10,279 shares of the pipeline company's stock valued at $436,000 after buying an additional 2,806 shares during the last quarter. Northern Trust Corp increased its holdings in Enbridge by 42.5% in the 4th quarter. Northern Trust Corp now owns 2,538,754 shares of the pipeline company's stock worth $107,719,000 after buying an additional 756,762 shares in the last quarter. Beacon Pointe Advisors LLC raised its position in Enbridge by 4.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 321,024 shares of the pipeline company's stock worth $13,621,000 after buying an additional 13,205 shares during the last quarter. Finally, Prosperity Consulting Group LLC bought a new position in Enbridge during the 4th quarter valued at about $214,000. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of ENB stock traded up $0.38 during mid-day trading on Friday, reaching $46.86. 3,024,607 shares of the company's stock traded hands, compared to its average volume of 4,178,970. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08. The firm has a 50 day moving average price of $43.82 and a two-hundred day moving average price of $43.14. The firm has a market capitalization of $102.16 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm earned $0.64 EPS. On average, research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio is presently 157.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ENB. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. Finally, TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Company Profile

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.