Auto Owners Insurance Co Has $40.98 Million Stock Position in Enbridge Inc $ENB

Auto Owners Insurance Co increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4,683.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,566,831 shares of the pipeline company’s stock after purchasing an additional 8,387,721 shares during the quarter. Auto Owners Insurance Co’s holdings in Enbridge were worth $40,975,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ENB. MIdWestOne Financial Group Inc. boosted its position in Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Enbridge by 1.1% in the fourth 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 in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of Enbridge by 4.4% in the fourth 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 in the last quarter. Blue Fin Capital Inc. raised its holdings in shares of Enbridge by 1.3% in the fourth 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 holdings in shares of Enbridge by 3.4% in the fourth 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price objective on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Trading Down 0.0%

ENB opened at $54.53 on Friday. The firm’s fifty day moving average is $54.92 and its two-hundred day moving average is $51.89. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market cap of $119.08 billion, a PE ratio of 25.60 and a beta of 0.58. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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 net margin of 9.83% and a return on equity of 11.21%. The company 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 posted $1.03 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is presently 133.80%.

Enbridge Company 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.