Amundi Boosts Position in Enbridge Inc $ENB

Key Points

• Amundi increased its Enbridge stake by 5.7% in the first quarter, adding 598,127 shares to own 11.0 million shares worth approximately $596.2 million. Institutional investors collectively own 54.6% of the company.
• Enbridge reported quarterly EPS of $0.71, beating analyst expectations of $0.69, while revenue reached $9.37 billion versus the $8.49 billion consensus estimate. Shares recently traded at $55.14, within a 12-month range of $44.80 to $58.45.
• The company declared a quarterly dividend of $0.97, equivalent to an annualized 7.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $66.50.

Amundi grew its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,012,062 shares of the pipeline company's stock after buying an additional 598,127 shares during the period. Amundi owned 0.50% of Enbridge worth $596,193,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Retirement Planning Group LLC lifted its stake in Enbridge by 3.6% in the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company's stock worth $290,000 after purchasing an additional 187 shares in the last quarter. PFG Investments LLC boosted its stake in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company's stock valued at $1,202,000 after buying an additional 202 shares during the period. MIdWestOne Financial Group Inc. grew 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 worth $235,000 after buying an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company's stock worth $891,000 after buying an additional 205 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in Enbridge by 4.4% in 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 last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of Enbridge stock opened at $55.14 on Thursday. The firm has a market capitalization of $120.43 billion, a PE ratio of 25.89 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $44.80 and a 12 month high of $58.45. The business's 50-day moving average price is $55.64 and its 200-day moving average price is $53.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge's dividend payout ratio is 133.80%.

Analysts Set New Price Targets

ENB has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an "outperform" rating on shares of Enbridge in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, TD Securities reissued a "hold" rating on shares of Enbridge in a research note on Thursday, July 16th. 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

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.

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