Swiss National Bank Sells 122,800 Shares of Enbridge Inc (NYSE:ENB)

Key Points

• The Swiss National Bank reduced its holdings in Enbridge Inc. (NYSE:ENB) by 1.9%, now owning approximately 6.2 million shares valued at $274.53 million.
• Several institutional investors, including Goldman Sachs and Blackstone, significantly increased their stakes in Enbridge, indicating strong institutional interest in the company.
• Enbridge recently announced an increased quarterly dividend of $0.6839 per share, reflecting a yield of 5.8% and an annualized payout of $2.74.

Swiss National Bank lowered its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,198,431 shares of the pipeline company's stock after selling 122,800 shares during the quarter. Swiss National Bank owned about 0.28% of Enbridge worth $274,533,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. AlphaCore Capital LLC lifted its holdings in shares of Enbridge by 26.7% during the first quarter. AlphaCore Capital LLC now owns 48,056 shares of the pipeline company's stock worth $2,129,000 after buying an additional 10,132 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Enbridge by 3.9% during the first quarter. Maryland State Retirement & Pension System now owns 2,978,574 shares of the pipeline company's stock worth $131,795,000 after buying an additional 110,785 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Enbridge by 79.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,206 shares of the pipeline company's stock worth $1,116,000 after buying an additional 11,191 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Enbridge by 0.9% during the first quarter. Chicago Partners Investment Group LLC now owns 69,091 shares of the pipeline company's stock worth $3,226,000 after buying an additional 629 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Enbridge by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,147,968 shares of the pipeline company's stock worth $272,063,000 after buying an additional 61,531 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.05 during trading hours on Friday, reaching $47.03. The stock had a trading volume of 2,387,065 shares, compared to its average volume of 3,980,450. The business's fifty day moving average is $45.48 and its two-hundred day moving average is $44.63. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.66. The company has a market cap of $102.55 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 4.32 and a beta of 0.79. Enbridge Inc has a twelve month low of $38.44 and a twelve month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, 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. Shareholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio is currently 133.99%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.