Enbridge Inc $ENB Shares Sold by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 900,000 shares of the pipeline company’s stock after selling 215,000 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Enbridge were worth $48,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. Norges Bank acquired a new stake in Enbridge during the fourth quarter worth $1,195,559,000. Geode Capital Management LLC raised its position in Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares during the period. Legal & General Group Plc raised its position in Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after purchasing an additional 858,323 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Enbridge by 4.9% in the 4th quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock valued at $870,577,000 after purchasing an additional 844,594 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada upped their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Up 0.1%

NYSE:ENB opened at $56.24 on Friday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The stock’s fifty day moving average is $55.12 and its two-hundred day moving average is $52.15. The stock has a market capitalization of $122.84 billion, a price-to-earnings ratio of 26.41 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the previous year, the firm posted $1.03 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is currently 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.