Riverview Capital Advisers LLC Has $2.91 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Riverview Capital Advisers LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,565 shares of the pipeline company’s stock after selling 756 shares during the quarter. Riverview Capital Advisers LLC’s holdings in Enbridge were worth $2,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. GQG Partners LLC increased its stake in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG boosted its position in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank purchased a new position in Enbridge in the fourth quarter valued at about $909,415,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on ENB shares. Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a report on Monday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Up 0.5%

NYSE ENB opened at $44.81 on Thursday. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $97.69 billion, a PE ratio of 26.05, a P/E/G ratio of 3.92 and a beta of 0.84. The stock has a 50-day simple moving average of $44.39 and a 200 day simple moving average of $43.37.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. Research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.06%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 139.69%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.