Swiss National Bank Raises Position in Enbridge Inc $ENB

Swiss National Bank lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,342,431 shares of the pipeline company’s stock after buying an additional 1,562,800 shares during the period. Swiss National Bank’s holdings in Enbridge were worth $397,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Enbridge in the 4th quarter worth approximately $1,195,559,000. Auto Owners Insurance Co boosted its stake in Enbridge by 4,683.0% during the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after purchasing an additional 8,387,721 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Enbridge during the 4th quarter valued at $132,705,000. Vanguard Group Inc. increased its holdings in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after purchasing an additional 2,016,674 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $56.68 on Friday. The firm has a fifty day simple moving average of $55.64 and a two-hundred day simple moving average of $52.96. The firm has a market cap of $123.79 billion, a PE ratio of 26.61 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 1-year low of $44.53 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $8.49 billion. During the same period last year, the business posted $1.03 EPS. On average, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, TD Securities reaffirmed a “hold” rating on shares of Enbridge in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.