Intact Investment Management Inc. Has $64.48 Million Stock Holdings in Enbridge Inc (NYSE:ENB)

Intact Investment Management Inc. cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,456,653 shares of the pipeline company’s stock after selling 3,520 shares during the period. Enbridge makes up about 2.2% of Intact Investment Management Inc.’s portfolio, making the stock its 8th biggest holding. Intact Investment Management Inc.’s holdings in Enbridge were worth $64,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in Enbridge during the first quarter valued at approximately $26,000. Wintrust Investments LLC lifted its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $39,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $42,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Down 0.6%

Shares of NYSE ENB opened at $44.71 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $45.80 and a two-hundred day simple moving average of $44.05. The firm has a market cap of $97.47 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 4.24 and a beta of 0.81. Enbridge Inc has a twelve month low of $34.61 and a twelve month high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period in the previous year, the company posted $0.92 EPS. Analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.08%. Enbridge’s dividend payout ratio (DPR) is currently 139.69%.

Enbridge Company 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.