Premier Fund Managers Ltd Increases Stake in Enbridge Inc $ENB

Premier Fund Managers Ltd grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 363,354 shares of the pipeline company’s stock after buying an additional 45,800 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $17,453,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Enbridge by 2.1% during 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. TD Asset Management Inc raised its position in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after buying an additional 137,897 shares during the last quarter. Scotia Capital Inc. raised its position in Enbridge by 2.1% during the 3rd quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after buying an additional 300,391 shares during the last quarter. Amundi raised its position in Enbridge by 3.2% during the 3rd quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock worth $479,706,000 after buying an additional 295,942 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after purchasing an additional 5,157,030 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ENB shares. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Price Performance

Enbridge stock opened at $54.24 on Thursday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $55.49. The stock has a market capitalization of $118.43 billion, a P/E ratio of 23.58 and a beta of 0.59. The firm’s 50-day moving average is $53.66 and its two-hundred day moving average is $50.05. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the company earned $0.75 EPS. Equities analysts predict that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is presently 120.87%.

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.