Keybank National Association OH Boosts Holdings in Enbridge Inc $ENB

Keybank National Association OH grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,853 shares of the pipeline company’s stock after acquiring an additional 10,597 shares during the quarter. Keybank National Association OH’s holdings in Enbridge were worth $1,779,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Enbridge in the fourth quarter worth $1,195,559,000. Auto Owners Insurance Co grew its stake in shares of Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after buying an additional 8,387,721 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of Enbridge in the fourth quarter worth about $132,705,000. Finally, Vanguard Group Inc. lifted its stake in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ENB. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada increased their price target on shares of 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 cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Up 2.1%

Enbridge stock traded up $1.15 on Tuesday, hitting $54.62. 310,228 shares of the stock traded hands, compared to its average volume of 4,836,180. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The firm has a market cap of $119.28 billion, a P/E ratio of 25.64 and a beta of 0.58. The business’s fifty day simple moving average is $55.32 and its 200 day simple moving average is $52.42. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.16 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors 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 yield of 7.1%. Enbridge’s payout ratio is presently 133.80%.

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.