Alberta Investment Management Corp Takes $132.71 Million Position in Enbridge Inc $ENB

Alberta Investment Management Corp purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,773,155 shares of the pipeline company’s stock, valued at approximately $132,705,000. Alberta Investment Management Corp owned 0.13% of Enbridge at the end of the most recent quarter.

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

Enbridge Price Performance

NYSE:ENB opened at $55.94 on Tuesday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $122.15 billion, a PE ratio of 26.26 and a beta of 0.58. The stock’s 50-day moving average price is $54.87 and its 200-day moving average price is $51.73.

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

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ENB shares. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.