Aviva PLC, a prominent global insurance company, has recently reduced its position in shares of Enbridge Inc., one of the largest pipeline companies operating internationally. According to Aviva PLC’s 13F filing with the Securities & Exchange Commission, the company sold 4,988 shares during the first quarter of this year, reducing its holdings by 0.7%. As a result, Aviva PLC now owns 734,474 shares of Enbridge’s stock, which has a market value of approximately $27,980,000 as of the end of the most recent quarter.
Enbridge Inc., listed on both the New York Stock Exchange and Toronto Stock Exchange under ticker symbols ENB and TSE:ENB respectively, is an energy infrastructure company that primarily focuses on transportation and distribution. The reduction in Aviva PLC’s position may be seen as a strategic move by the insurance giant based on various factors such as market conditions and portfolio adjustment strategies.
One aspect to consider when evaluating Enbridge as an investment is the company’s dividend policy. Recently, Enbridge declared that it will pay a quarterly dividend on Friday, September 1st. Shareholders who were recorded on Tuesday, August 15th will be eligible for this dividend payment. The amount set for distribution is $0.67 per share, representing an annualized dividend of $2.68 per share and a yield of 7.58%. It is worth noting that this new dividend amount is higher than Enbridge’s previous quarterly dividend of $0.66 per share. As such, this increase demonstrates Enbridge’s commitment to rewarding its shareholders.
Another financial metric to consider when analyzing Enbridge is their dividend payout ratio (DPR), which indicates the proportion of earnings paid out as dividends to shareholders. For Enbridge Inc., their current DPR stands at 187.86%, indicating that they distribute more in dividends than they earn in net income.
Investors may find these recent developments of interest when assessing Enbridge as a potential investment opportunity. It’s important to conduct thorough research and consider various factors before making any investment decisions.
Disclaimer: The information provided in this article is based on publicly available data as of September 2, 2023. These findings are subject to change and should not be considered financial advice. Investors are encouraged to consult with a financial professional before making any investment decisions.
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Enbridge Inc.: Significant Modifications in Holdings by Hedge Funds and Analyst Evaluations
Enbridge Inc., a prominent pipeline company, has recently seen some significant modifications in its holdings by various hedge funds and institutional investors. Moneta Group Investment Advisors LLC raised its stake in Enbridge by an astounding 109,143.5% during the fourth quarter, now owning over 48 million shares valued at $1.9 billion. Similarly, Norges Bank entered the picture by acquiring a new position worth $723 million in Enbridge during the same quarter.
FIL Ltd also increased its stake in Enbridge by 123.2% in the first quarter of this year, now owning nearly 10 million shares valued at $372 million. Another notable increase was seen from Barrow Hanley Mewhinney & Strauss LLC, with their holdings growing by 60.7% to over 11 million shares worth $430 million.
Completing the list of notable investors is Federated Hermes Inc., which saw a boost of 182% in their position during the first quarter, now holding approximately 5.7 million shares valued at $219 million. It is worth mentioning that these hedge funds and institutional investors collectively own about 48.29% of Enbridge’s stock.
Equities research analysts have been actively evaluating Enbridge’s performance as well. Royal Bank of Canada recently issued an “outperform” rating for the company and lowered their target price from $65 to $60 per share on August 7th. TD Securities also reduced their price objective from $62 to $58 per share but maintained a “buy” rating for Enbridge on August 8th.
Additionally, StockNews.com initiated coverage on Enbridge on August 17th and assigned a “hold” rating to the stock. Currently, Bloomberg.com reports that the average rating for Enbridge is “Hold,” with an average target price of $57.67 per share.
On September 2nd, ENB stock traded at $35.37 per share, experiencing a slight increase of $0.29. The trading volume for the day was 490,189 shares, compared to the average volume of 3,687,853 shares. Enbridge has a market capitalization of $71.54 billion and a price-to-earnings ratio of 25.06. The stock has plenty of room for growth, with a fifty-two week high of $43.03 and a low of $33.96.
Enbridge released its quarterly earnings results on August 4th, reporting earnings per share of $0.51 for the quarter, which aligned with analysts’ consensus estimates. The company generated $7.77 billion in revenue during the quarter, surpassing analysts’ expectations of $7.49 billion.
Enbridge’s return on equity stands at 10.20%, highlighting their ability to generate profit from shareholder investments, while the net margin is at a respectable 8.58%. Research analysts predict that Enbridge will post an EPS (earnings per share) value of 2.12 for the current fiscal year.
These recent developments and evaluations offer valuable insights into Enbridge’s financial standing and investment potential for interested stakeholders and investors alike.
