BankChampaign National Association Purchases New Holdings in Enbridge Inc $ENB

BankChampaign National Association purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 10,898 shares of the pipeline company’s stock, valued at approximately $590,000.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $55.42 on Friday. Enbridge Inc has a 1 year low of $44.80 and a 1 year high of $58.45. The firm has a 50 day moving average of $55.59 and a 200-day moving average of $53.57. 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 stock has a market capitalization of $121.04 billion, a P/E ratio of 26.02 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate 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 business earned $1.03 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s payout ratio is currently 133.80%.

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.