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

Swiss Life Asset Management Ltd raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,424 shares of the pipeline company’s stock after purchasing an additional 27,990 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Enbridge were worth $14,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tsfg LLC raised its holdings in shares of Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the period. Triumph Capital Management purchased a new position in Enbridge in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the 3rd quarter worth approximately $28,000. Garner Asset Management Corp acquired a new stake in Enbridge in the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ENB shares. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Seven 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, the company has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Stock Up 1.7%

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

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.26%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts predict that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is 130.52%.

Enbridge 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.