Federation des caisses Desjardins du Quebec Has $347.40 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Enbridge Inc by 18.3%, bringing its total holdings to approximately 7.87 million shares valued at about $347 million.
• Several hedge funds, including Goldman Sachs and Blackstone, significantly increased their holdings in Enbridge, indicating strong institutional interest in the company.
• Enbridge announced a quarterly dividend of $0.6839, representing an annual yield of 5.7%, and has raised its dividend slightly from the previous quarter.

Federation des caisses Desjardins du Quebec boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,869,539 shares of the pipeline company's stock after buying an additional 1,216,081 shares during the quarter. Enbridge makes up about 1.7% of Federation des caisses Desjardins du Quebec's investment portfolio, making the stock its 11th biggest holding. Federation des caisses Desjardins du Quebec owned approximately 0.36% of Enbridge worth $347,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Counsel Inc increased its holdings in 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 buying an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in 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 during the period. Loudon Investment Management LLC boosted its stake in 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 during the period. Sound View Wealth Advisors Group LLC boosted its stake in 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 during the period. Finally, Hardin Capital Partners LLC boosted its stake in 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 during the period. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ENB shares. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Price Performance

ENB traded up $0.13 during trading on Friday, reaching $48.29. The stock had a trading volume of 2,667,837 shares, compared to its average volume of 3,701,650. The firm has a market capitalization of $105.29 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 4.40 and a beta of 0.80. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $48.59. The stock has a 50 day moving average of $46.28 and a two-hundred day moving average of $45.12.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

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.