Northeast Investment Management Acquires Shares of 18,700 Enbridge Inc $ENB

Northeast Investment Management acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 18,700 shares of the pipeline company’s stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Enbridge by 2.1% during 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 purchasing an additional 2,067,516 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Enbridge by 0.3% in the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after acquiring an additional 137,897 shares during the period. Scotia Capital Inc. grew its stake in shares of Enbridge by 2.1% in the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock worth $723,404,000 after acquiring an additional 300,391 shares during the period. Amundi grew its stake in shares of Enbridge by 3.2% in the third quarter. Amundi now owns 9,638,460 shares of the pipeline company’s stock worth $479,706,000 after acquiring an additional 295,942 shares during the period. Finally, Bank of Nova Scotia grew its stake in shares of Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $54.84 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.55. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $55.49. The company has a market capitalization of $119.75 billion, a P/E ratio of 25.74 and a beta of 0.59. The firm’s 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $50.25.

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

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.1%. Enbridge’s payout ratio is currently 130.52%.

Analysts Set New Price Targets

A number of analysts have recently commented on ENB shares. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

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.