Norges Bank Acquires Shares of 24,983,734 Enbridge Inc $ENB

Norges Bank acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,983,734 shares of the pipeline company’s stock, valued at approximately $1,195,559,000. Norges Bank owned 1.15% of Enbridge at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC grew its holdings in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares during the period. AXA S.A. grew its holdings in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares during the period. Diversify Advisory Services LLC grew its holdings in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after purchasing an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENB has been the topic of several research analyst reports. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $54.75 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The business’s 50 day moving average price is $54.45 and its 200-day moving average price is $51.09. The firm has a market capitalization of $119.56 billion, a PE ratio of 25.71 and a beta of 0.59. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45.

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

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

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.