Enbridge Inc. (NYSE:ENB) Shares Purchased by Utah Retirement Systems

Utah Retirement Systems grew its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,052 shares of the pipeline company's stock after buying an additional 6,300 shares during the period. Utah Retirement Systems' holdings in Enbridge were worth $10,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. GQG Partners LLC increased its stake in Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. TD Asset Management Inc. raised its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after buying an additional 1,040,799 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge during the fourth quarter worth about $909,415,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after buying an additional 176,733 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ENB shares. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

Shares of NYSE ENB traded up $0.38 during midday trading on Friday, hitting $46.86. The company had a trading volume of 3,024,607 shares, compared to its average volume of 4,178,970. The firm has a market capitalization of $102.16 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The business has a 50-day simple moving average of $43.82 and a two-hundred day simple moving average of $43.14. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is 157.56%.

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.