Public Employees Retirement System of Ohio Purchases Shares of 171,800 Enbridge Inc $ENB

Public Employees Retirement System of Ohio purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 171,800 shares of the pipeline company’s stock, valued at approximately $9,313,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENB. Deutsche Bank AG bought a new position in shares of Enbridge in the second quarter valued at $1,850,502,000. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter worth $1,195,559,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Enbridge during the 2nd quarter worth $467,782,000. Auto Owners Insurance Co grew its holdings in shares of Enbridge by 4,683.0% in the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after acquiring an additional 8,387,721 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Enbridge in the 2nd quarter worth $412,627,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. TD Securities reissued a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research note on Tuesday, August 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Six 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, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Up 0.9%

NYSE:ENB opened at $50.65 on Tuesday. The business’s fifty day moving average price is $53.56 and its 200 day moving average price is $54.02. The firm has a market capitalization of $110.62 billion, a price-to-earnings ratio of 27.09 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company posted $0.65 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

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.