Aviso Financial Inc. Boosts Stock Position in Enbridge Inc $ENB

Aviso Financial Inc. raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,486,424 shares of the pipeline company’s stock after buying an additional 27,126 shares during the period. Enbridge makes up approximately 3.0% of Aviso Financial Inc.’s holdings, making the stock its 12th biggest holding. Aviso Financial Inc.’s holdings in Enbridge were worth $75,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Norges Bank bought a new position in shares of Enbridge in the second quarter worth about $1,113,368,000. Canada Pension Plan Investment Board boosted its position in Enbridge by 38.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after buying an additional 3,687,334 shares during the period. Vanguard Group Inc. boosted its position in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after buying an additional 3,217,961 shares during the period. Geode Capital Management LLC grew its stake in Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after acquiring an additional 2,989,992 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Enbridge during the second quarter worth approximately $132,105,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $53.17 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $54.19. The company has a market capitalization of $116.00 billion, a PE ratio of 23.12 and a beta of 0.69. The firm’s 50-day moving average is $48.95 and its two-hundred day moving average is $48.37. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the business posted $0.75 earnings per share. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 120.87%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ENB. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Citigroup reiterated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Company 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.