Leonteq Securities AG Raises Position in Enbridge Inc $ENB

Leonteq Securities AG boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1,079.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,656 shares of the pipeline company’s stock after purchasing an additional 12,498 shares during the period. Leonteq Securities AG’s holdings in Enbridge were worth $739,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter worth about $1,195,559,000. Auto Owners Insurance Co boosted its holdings in Enbridge by 4,683.0% during the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after acquiring an additional 8,387,721 shares during the period. Bank of Nova Scotia grew its position in Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares during the last quarter. Alberta Investment Management Corp bought a new position in Enbridge during the 4th quarter worth approximately $132,705,000. Finally, Vanguard Group Inc. increased its stake in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ENB. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Down 0.1%

ENB stock opened at $54.05 on Friday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The company has a market capitalization of $118.04 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58. The business’s 50 day moving average price is $55.32 and its two-hundred day moving average price is $52.38. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, analysts forecast that Enbridge Inc will post 2.16 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is 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.