Enbridge Inc. (NYSE:ENB) Shares Bought by Nexus Investment Management ULC

Nexus Investment Management ULC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 776,812 shares of the pipeline company’s stock after buying an additional 13,450 shares during the quarter. Enbridge comprises approximately 2.7% of Nexus Investment Management ULC’s investment portfolio, making the stock its 20th largest holding. Nexus Investment Management ULC’s holdings in Enbridge were worth $28,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Enbridge by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after purchasing an additional 1,561,598 shares during the period. TD Asset Management Inc grew its stake in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Enbridge by 2.5% during the 4th quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock worth $1,271,115,000 after purchasing an additional 846,796 shares during the period. Canoe Financial LP grew its stake in shares of Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after purchasing an additional 33,419,164 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.06 during midday trading on Friday, reaching $34.69. 6,671,518 shares of the company’s stock traded hands, compared to its average volume of 5,740,400. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $38.37. The company has a market cap of $73.75 billion, a P/E ratio of 17.61, a PEG ratio of 3.26 and a beta of 0.90. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $35.61.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. Equities analysts predict that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.81%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.20.

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.