Caisse DE Depot ET Placement DU Quebec Has $134.82 Million Position in Enbridge Inc $ENB

Key Points

• Caisse DE Depot ET Placement DU Quebec sold 839,324 shares of Enbridge Inc, reducing its holdings by 21.6%, leaving the fund with 3,046,553 shares valued at approximately $134.8 million.
• Enbridge declared a quarterly dividend of $0.6839, up from the previous dividend of $0.68, reflecting an annual yield of 5.7% with a payout ratio of 134.98%.
• Analysts have a consensus "Moderate Buy" rating for Enbridge with an average price target of $60.50 and some upgrades in ratings from firms like Zacks and Royal Bank of Canada.

Caisse DE Depot ET Placement DU Quebec cut its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 21.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,046,553 shares of the pipeline company's stock after selling 839,324 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.14% of Enbridge worth $134,817,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ENB. Capital Investment Counsel Inc grew its stake in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock valued at $1,526,000 after acquiring an additional 226 shares in the last quarter. Loudon Investment Management LLC grew its stake in shares of Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock valued at $939,000 after acquiring an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after acquiring an additional 243 shares in the last quarter. Finally, Hardin Capital Partners LLC grew its stake in shares of Enbridge by 2.7% in the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock valued at $423,000 after acquiring an additional 252 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ENB shares. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Price Performance

Shares of ENB traded up $0.58 during mid-day trading on Friday, reaching $48.39. The company had a trading volume of 3,528,116 shares, compared to its average volume of 4,001,914. The company's 50 day simple moving average is $45.86 and its 200 day simple moving average is $44.95. The company has a market capitalization of $105.51 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 4.35 and a beta of 0.79. Enbridge Inc has a 1-year low of $39.30 and a 1-year high of $48.59. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period last year, the company earned $0.58 EPS. Analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

About Enbridge

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.