Pictet Asset Management Holding SA Purchases 59,394 Shares of Enbridge Inc $ENB

Pictet Asset Management Holding SA increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,026,996 shares of the pipeline company’s stock after buying an additional 59,394 shares during the period. Pictet Asset Management Holding SA’s holdings in Enbridge were worth $55,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MIdWestOne Financial Group Inc. increased its position in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 203 shares during the period. Sumitomo Life Insurance Co. lifted its position in shares of Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the period. Arete Wealth Advisors LLC lifted its position in shares of Enbridge by 4.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 208 shares during the period. Blue Fin Capital Inc. boosted its stake in shares of Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after purchasing an additional 213 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its stake in shares of Enbridge by 3.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 213 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $55.41 on Tuesday. The business’s fifty day simple moving average is $55.18 and its 200-day simple moving average is $52.24. The company has a market cap of $121.02 billion, a PE ratio of 26.01 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share 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 analysts’ expectations of $8.49 billion. During the same quarter last year, the firm earned $1.03 EPS. Analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. 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 report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

About Enbridge

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.