Alberta Investment Management Corp Has $156.62 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Alberta Investment Management Corp boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,692,089 shares of the pipeline company’s stock after purchasing an additional 103,008 shares during the period. Enbridge comprises 1.0% of Alberta Investment Management Corp’s portfolio, making the stock its 10th biggest holding. Alberta Investment Management Corp owned about 0.17% of Enbridge worth $156,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter valued at about $29,000. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $35,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Enbridge during the 3rd quarter valued at about $37,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENB. Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $42.70 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The stock’s 50 day simple moving average is $43.35 and its two-hundred day simple moving average is $41.83. The company has a market cap of $93.05 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 4.02 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.15 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 155.81%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.