Ontario Teachers Pension Plan Board Has $1.12 Million Stock Holdings in Enbridge Inc (NYSE:ENB)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Enbridge Inc by 79.9%, holding a total of 25,206 shares valued at approximately $1.1 million.
• Several major institutional investors have also significantly raised their holdings in Enbridge, with Goldman Sachs increasing its position by 137.9% in the last quarter.
• Enbridge announced a quarterly dividend increase to $0.6839 per share, reflecting a 5.8% yield, with record dates set for August 15th.

Ontario Teachers Pension Plan Board lifted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 79.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,206 shares of the pipeline company's stock after buying an additional 11,191 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Enbridge were worth $1,116,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its stake in shares of Enbridge by 0.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 69,091 shares of the pipeline company's stock worth $3,226,000 after acquiring an additional 629 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Enbridge by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,147,968 shares of the pipeline company's stock valued at $272,063,000 after acquiring an additional 61,531 shares during the period. Lester Murray Antman dba SimplyRich boosted its stake in shares of Enbridge by 31.5% in the 1st quarter. Lester Murray Antman dba SimplyRich now owns 11,625 shares of the pipeline company's stock valued at $515,000 after buying an additional 2,783 shares during the period. Vanguard Group Inc. boosted its stake in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after buying an additional 1,569,879 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after acquiring an additional 19,074,827 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of several research analyst reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Down 0.1%

ENB traded down $0.05 during trading on Friday, reaching $47.03. 2,387,065 shares of the stock traded hands, compared to its average volume of 3,850,334. The stock has a market cap of $102.55 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Enbridge Inc has a fifty-two week low of $38.44 and a fifty-two week high of $47.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock's 50-day simple moving average is $45.48 and its two-hundred day simple moving average is $44.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.58 earnings per share. As a group, equities research 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 5.8%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is currently 133.99%.

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.