QV Investors Inc. Invests $59.52 Million in Enbridge Inc $ENB

QV Investors Inc. purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,179,521 shares of the pipeline company’s stock, valued at approximately $59,519,000. Enbridge makes up about 5.2% of QV Investors Inc.’s portfolio, making the stock its 4th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter worth $261,000. AQR Capital Management LLC lifted its stake in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Enbridge by 17.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 23,890 shares of the pipeline company’s stock worth $1,082,000 after acquiring an additional 3,535 shares during the period. Park Avenue Securities LLC purchased a new position in Enbridge during the 2nd quarter valued at about $1,788,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Enbridge by 7.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,603 shares of the pipeline company’s stock valued at $345,000 after purchasing an additional 501 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE ENB opened at $47.45 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $103.52 billion, a PE ratio of 26.07 and a beta of 0.68. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a 50 day moving average price of $47.39 and a two-hundred day moving average price of $47.39.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is presently 147.80%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, January 16th. Royal Bank Of Canada boosted their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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.