USS Investment Management Ltd Has $22.20 Million Stake in Enbridge Inc $ENB

USS Investment Management Ltd raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,049 shares of the pipeline company’s stock after buying an additional 12,958 shares during the period. USS Investment Management Ltd’s holdings in Enbridge were worth $22,196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its position in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after purchasing an additional 41,601 shares during the period. Viking Fund Management LLC boosted its holdings in shares of Enbridge by 35.2% during the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after buying an additional 61,500 shares during the period. Third View Private Wealth LLC bought a new stake in shares of Enbridge during the 4th quarter worth $3,691,000. Swiss Life Asset Management Ltd grew its stake in Enbridge by 19.2% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock valued at $13,966,000 after buying an additional 44,524 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 2.1%

ENB opened at $54.24 on Wednesday. The business has a 50 day moving average of $55.21 and a 200-day moving average of $52.28. The stock has a market capitalization of $118.46 billion, a price-to-earnings ratio of 25.46 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 $43.59 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.16 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared 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 7.2%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ENB shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Scotiabank reissued an “outperform” 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 stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $66.50.

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.