Thornburg Investment Management Inc. Increases Position in Enbridge Inc $ENB

Thornburg Investment Management Inc. lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,601,831 shares of the pipeline company’s stock after purchasing an additional 14,211 shares during the quarter. Enbridge comprises about 2.2% of Thornburg Investment Management Inc.’s holdings, making the stock its 12th biggest position. Thornburg Investment Management Inc.’s holdings in Enbridge were worth $172,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Norges Bank purchased a new position in shares of Enbridge in the 4th quarter valued at about $1,195,559,000. Geode Capital Management LLC increased its stake in shares of Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after purchasing an additional 858,323 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ENB shares. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada boosted their price objective on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Trading Down 0.0%

ENB opened at $56.49 on Monday. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The stock has a market capitalization of $123.35 billion, a PE ratio of 26.52 and a beta of 0.58. The business’s 50 day moving average price is $54.83 and its 200 day moving average price is $51.67. 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 released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating 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 analysts’ expectations of $8.49 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s dividend payout ratio is currently 133.80%.

About Enbridge

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.