OMERS ADMINISTRATION Corp Sells 1,872,192 Shares of Enbridge Inc $ENB

OMERS ADMINISTRATION Corp lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 78.9% in the first quarter, HoldingsChannel reports. The fund owned 500,000 shares of the pipeline company’s stock after selling 1,872,192 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Enbridge were worth $27,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Triumph Capital Management bought a new position in shares of Enbridge in the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC acquired a new position in Enbridge during the fourth quarter worth $29,000. Garner Asset Management Corp acquired a new position in Enbridge during the fourth quarter worth $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Enbridge in the third quarter valued at $31,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENB shares. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday. Royal Bank Of Canada raised 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Performance

NYSE ENB opened at $56.84 on Friday. The company has a fifty day moving average price of $55.73 and a 200-day moving average price of $53.24. The firm has a market cap of $124.13 billion, a price-to-earnings ratio of 26.68 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a 1 year low of $44.58 and a 1 year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period last year, the firm earned $1.03 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.8%. Enbridge’s dividend payout ratio (DPR) is currently 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.