Ilmarinen Mutual Pension Insurance Co boosted its holdings in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,000 shares of the pipeline company’s stock after purchasing an additional 36,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Enbridge were worth $15,400,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. bought a new position in shares of Enbridge during the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Enbridge during the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Enbridge during the 1st quarter valued at approximately $27,000. MBM Wealth Consultants LLC bought a new position in shares of Enbridge during the 4th quarter valued at approximately $39,000. Finally, Antonetti Capital Management LLC boosted its position in shares of Enbridge by 58.2% during the 1st quarter. Antonetti Capital Management LLC now owns 1,087 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 400 shares during the last quarter. 48.29% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. TD Securities lowered their target price on Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Wells Fargo & Company downgraded Enbridge from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 6th. Scotiabank began coverage on Enbridge in a research report on Monday. They issued a “sector perform” rating for the company. CIBC raised their price target on Enbridge from $63.00 to $64.00 and gave the stock an “outperformer” rating in a research report on Monday. Finally, StockNews.com began coverage on Enbridge in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.57.
Enbridge Stock Performance
ENB stock opened at $34.14 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $35.74 and its two-hundred day simple moving average is $37.17. Enbridge Inc. has a twelve month low of $32.90 and a twelve month high of $42.78. The firm has a market cap of $69.05 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.62 and a beta of 0.85.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last announced its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.49 billion. Enbridge had a return on equity of 10.20% and a net margin of 8.58%. Analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.
Enbridge Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.67 per share. The ex-dividend date was Monday, August 14th. This represents a $2.68 annualized dividend and a dividend yield of 7.85%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 187.86%.
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.
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