USS Investment Management Ltd Invests $16.83 Million in Enbridge Inc. (NYSE:ENB)

USS Investment Management Ltd bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 397,091 shares of the pipeline company’s stock, valued at approximately $16,828,000.

Several other institutional investors have also recently bought and sold shares of ENB. Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth about $909,415,000. Arrowstreet Capital Limited Partnership boosted its stake in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. grew its holdings in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares during the last quarter. Deutsche Bank AG increased its position in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Enbridge during the fourth quarter worth approximately $180,941,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ENB. Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Trading Up 1.5%

ENB stock opened at $45.60 on Wednesday. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.08. The firm has a market cap of $99.41 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.92 and a beta of 0.84. The business’s 50 day moving average is $44.59 and its 200-day moving average is $43.52. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.679 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.96%. Enbridge’s dividend payout ratio 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.