Enbridge Inc. (NYSE:ENB) is Alberta Investment Management Corp’s 10th Largest Position

Alberta Investment Management Corp increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 3,692,089 shares of the pipeline company’s stock after buying an additional 103,008 shares during the period. Enbridge makes up approximately 1.0% of Alberta Investment Management Corp’s investment portfolio, making the stock its 10th largest position. Alberta Investment Management Corp’s holdings in Enbridge were worth $156,622,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. McIlrath & Eck LLC increased its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new position in shares of Enbridge in the fourth quarter valued at about $29,000. MFA Wealth Advisors LLC increased its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Enbridge in the third quarter valued at about $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in Enbridge during the third quarter worth about $37,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of 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. The business’s 50 day moving average price is $43.35 and its 200-day moving average price is $41.83. The firm has a market capitalization of $93.05 billion, a PE ratio of 24.83, a P/E/G ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.15 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

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

Analyst Ratings Changes

Several research firms recently commented on ENB. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research 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 an average price target of $67.00.

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.