Healthcare of Ontario Pension Plan Trust Fund increased its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 787.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,196,000 shares of the pipeline company's stock after buying an additional 2,836,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.15% of Enbridge worth $173,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Triumph Capital Management bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC bought a new position in shares of Enbridge during the 4th quarter valued at $29,000. Imprint Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter valued at $31,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 54.60% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada raised their price objective on Enbridge from $76.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a report on Tuesday. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Enbridge in a report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and an average target price of $66.50.
View Our Latest Research Report on Enbridge
Enbridge Trading Up 0.8%
NYSE:ENB opened at $56.84 on Friday. The company has a fifty day moving average of $55.73 and a 200 day moving average of $53.24. Enbridge Inc has a 52 week low of $44.58 and a 52 week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $124.13 billion, a P/E ratio of 26.68 and a beta of 0.58.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the firm earned $1.03 EPS. On average, research analysts predict that Enbridge Inc will post 2.13 earnings per share for the current year.
Enbridge Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, May 15th. Enbridge's payout ratio is currently 133.80%.
Enbridge Profile
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Free Report)
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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