Swiss National Bank Cuts Stock Position in Enbridge Inc $ENB

Key Points

• Swiss National Bank reduced its Enbridge stake by 7.9% in the fourth quarter, selling 493,300 shares and leaving it with 5,779,631 shares valued at about $277.1 million.
• Enbridge’s latest quarterly results beat expectations, reporting EPS of $0.71 versus the $0.69 estimate and revenue of $9.37 billion versus $8.49 billion expected.
• The company continues to offer a high dividend yield, paying a quarterly dividend of $0.97 per share, or $3.88 annualized, which implies a yield of 6.9%.

Swiss National Bank lessened its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,779,631 shares of the pipeline company's stock after selling 493,300 shares during the period. Swiss National Bank owned 0.26% of Enbridge worth $277,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Triumph Capital Management purchased a new position in Enbridge in the third quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the third quarter valued at about $28,000. Garner Asset Management Corp purchased a new position in Enbridge in the fourth quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in Enbridge in the third quarter valued at about $31,000. Finally, Tucker Asset Management LLC purchased a new position in Enbridge in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

Shares of ENB stock opened at $56.49 on Friday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The firm has a market capitalization of $123.35 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The stock's 50-day simple moving average is $54.77 and its 200-day simple moving average is $51.61.

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

Enbridge Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge's payout ratio is 133.80%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, May 24th. Citigroup reiterated a "buy" rating on shares of Enbridge in a research note on Thursday, February 19th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. TD Securities lowered Enbridge from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their price target on Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.50.

Enbridge News Roundup

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 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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