Citigroup Inc. Has $45.90 Million Stock Position in Enbridge Inc $ENB

Citigroup Inc. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 67.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 909,576 shares of the pipeline company’s stock after acquiring an additional 367,330 shares during the quarter. Citigroup Inc.’s holdings in Enbridge were worth $45,897,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Enbridge by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after purchasing an additional 1,892,491 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $1,113,368,000. Legal & General Group Plc lifted its holdings in Enbridge by 1.1% in the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock valued at $853,669,000 after buying an additional 207,243 shares during the period. Geode Capital Management LLC grew its holdings in Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after acquiring an additional 2,989,992 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of Enbridge by 0.3% during the 2nd quarter. Scotia Capital Inc. now owns 14,069,558 shares of the pipeline company’s stock valued at $635,774,000 after acquiring an additional 37,589 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ENB shares. Royal Bank Of Canada raised their price target on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven 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.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Trading Up 0.1%

NYSE:ENB opened at $52.42 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The business’s 50-day simple moving average is $48.59 and its 200-day simple moving average is $48.26. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.19. The stock has a market capitalization of $114.36 billion, a PE ratio of 22.79 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period last year, the company posted $0.75 EPS. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 7.4%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 120.87%.

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.