2,773,155 Shares in Enbridge Inc $ENB Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,773,155 shares of the pipeline company’s stock, valued at approximately $132,705,000.

Several other institutional investors also recently bought and sold shares of ENB. Norges Bank acquired a new stake in Enbridge in the 4th quarter worth about $1,195,559,000. Bank of Nova Scotia boosted its holdings in Enbridge by 118.0% in the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 buying an additional 2,067,516 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Enbridge by 43.7% in the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after buying an additional 2,016,674 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Enbridge in the 3rd quarter worth about $88,407,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $55.94 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a fifty day moving average price of $54.87 and a 200 day moving average price of $51.73. The company has a market cap of $122.15 billion, a P/E ratio of 26.26 and a beta of 0.58. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45.

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

Enbridge Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. 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 report on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.