Enbridge Inc $ENB Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,026,996 shares of the pipeline company’s stock after buying an additional 59,394 shares during the period. Pictet Asset Management Holding SA’s holdings in Enbridge were worth $55,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ENB. Triumph Capital Management acquired a new position in shares of Enbridge in the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the 3rd quarter worth $28,000. Inspire Investing LLC acquired a new stake in Enbridge during the 4th quarter worth about $29,000. Garner Asset Management Corp acquired a new stake in Enbridge during the 4th quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new stake in Enbridge during the 3rd quarter valued at about $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE:ENB opened at $55.41 on Tuesday. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market cap of $121.02 billion, a price-to-earnings ratio of 26.01 and a beta of 0.58. The firm’s fifty day moving average is $55.18 and its two-hundred day moving average is $52.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the firm earned $1.03 EPS. Research analysts expect that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s dividend payout ratio is presently 133.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

About Enbridge

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.