Aviva PLC Has $96 Million Position in Enbridge Inc $ENB

Key Points

• Aviva PLC boosted its Enbridge stake by 5.5% in the fourth quarter, ending with 2.0 million shares valued at about $96 million. The filing adds to evidence of broad institutional interest, with 54.6% of Enbridge shares held by hedge funds and other institutions.
• Enbridge reported solid quarterly results, beating analysts’ expectations with earnings per share of $0.71 versus $0.69 expected and revenue of $9.37 billion versus $8.49 billion forecast. The company also continues to highlight its high dividend, recently paying a $0.97 quarterly dividend that annualizes to a 6.9% yield.
• Sentiment around the stock is mixed but generally constructive: analysts currently rate Enbridge a “Moderate Buy” with an average price target of $66.50, while recent news included approval for a debt-exchange transaction and reports that the stock has been outperforming the broader market.

Aviva PLC increased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,004,635 shares of the pipeline company's stock after acquiring an additional 105,107 shares during the period. Aviva PLC owned about 0.09% of Enbridge worth $96,002,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Enbridge during the 4th quarter valued at about $1,195,559,000. Bank of Nova Scotia lifted its holdings in Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company's stock valued at $480,518,000 after purchasing an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company's stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company's stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Enbridge in the third quarter worth about $88,407,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge and its pipeline subsidiary received noteholder approval for a debt-exchange transaction, a step that simplifies the company’s debt structure and may support a cleaner long-term infrastructure financing strategy. Enbridge Inc. and Enbridge Pipelines Inc. Announce Noteholder Approval of Proposed Debt Exchange Transaction
• Positive Sentiment: A market report said ENB stock rose and outperformed the broader market, reinforcing that recent trading momentum has been favorable. Enbridge Inc. stock rises Wednesday, outperforms market
• Neutral Sentiment: Several articles simply flagged Enbridge as a trending stock, which suggests elevated investor attention but does not by itself change the fundamentals. Here is What to Know Beyond Why Enbridge Inc (ENB) is a Trending Stock
• Neutral Sentiment: Analyst and comparison pieces highlighted Enbridge’s dividend growth history and compared it with peers, but these were largely review articles rather than new catalysts. Enbridge Vs. TC Energy Vs. Pembina Pipeline: How I Rank Canada’s 3 Pipeline Giants
• Neutral Sentiment: Other coverage was mostly informational or unrelated to Enbridge’s core operating outlook, including a pension settlement report and a third-party board appointment involving an Enbridge executive. Ontario court approves $826,836 Enbridge pension settlement

Enbridge Stock Up 0.1%

Shares of NYSE ENB opened at $56.49 on Friday. The stock has a market cap of $123.35 billion, a P/E ratio of 26.52 and a beta of 0.58. The firm has a 50 day moving average price of $54.77 and a 200 day moving average price of $51.61. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the prior year, the company earned $1.03 earnings per share. Analysts expect that Enbridge Inc will post 2.17 EPS for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge's dividend payout ratio is 133.80%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ENB shares. TD Securities downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Citigroup reaffirmed a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. Seven 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 stock currently has a consensus rating of "Moderate Buy" and an average 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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