Enbridge Inc $ENB Shares Acquired by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 304,424 shares of the pipeline company’s stock after acquiring an additional 27,990 shares during the period. Swiss Life Asset Management Ltd’s holdings in Enbridge were worth $14,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after acquiring an additional 221,976 shares during the period. Trajan Wealth LLC lifted its holdings in shares of Enbridge by 15.3% in the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares during the last quarter. Principal Financial Group Inc. boosted its position in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after purchasing an additional 24,165 shares during the period. Exchange Traded Concepts LLC boosted its position in Enbridge by 3.9% during the 4th 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. Finally, Viking Fund Management LLC grew its stake in 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 last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENB has been the topic of several analyst reports. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Up 1.7%

ENB opened at $54.48 on Tuesday. The stock’s 50 day moving average price is $53.76 and its 200 day moving average price is $50.20. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The stock has a market cap of $118.97 billion, a P/E ratio of 25.58 and a beta of 0.59. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $55.49.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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 return on equity of 11.26% and a net margin of 9.83%.The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, research 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. Investors of record on Friday, May 15th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.1%. Enbridge’s dividend payout ratio is presently 130.52%.

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.