1,111,486 Shares in Enbridge Inc $ENB Purchased by Nykredit A S

Nykredit A S bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,111,486 shares of the pipeline company’s stock, valued at approximately $60,253,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG bought a new position in Enbridge in the 2nd quarter worth approximately $1,850,502,000. Norges Bank bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $1,195,559,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Enbridge in the second quarter worth $467,782,000. Auto Owners Insurance Co grew its stake in shares of Enbridge by 4,683.0% in the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after acquiring an additional 8,387,721 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Enbridge during the second quarter worth $412,627,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.7%

Shares of ENB opened at $50.35 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $53.36 and a two-hundred day moving average price of $54.01. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 6.01 and a beta of 0.57. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the prior year, the firm posted $0.65 EPS. Equities analysts predict that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio is currently 147.06%.

Analysts Set New Price Targets

Several equities analysts recently commented on ENB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. Finally, Wolfe Research set a $50.00 target price on Enbridge in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

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.