Dai Ichi Life Insurance Company Ltd Invests $538,000 in Enbridge Inc (ENB)

Dai Ichi Life Insurance Company Ltd bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, Holdings Channel reports. The fund bought 12,854 shares of the pipeline company’s stock, valued at approximately $538,000.

Several other large investors have also recently made changes to their positions in ENB. Comerica Bank boosted its stake in shares of Enbridge by 8.7% in the fourth quarter. Comerica Bank now owns 109,365 shares of the pipeline company’s stock worth $4,732,000 after buying an additional 8,741 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Enbridge by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,023 shares of the pipeline company’s stock worth $8,214,000 after buying an additional 7,196 shares during the period. Brown Advisory Inc. boosted its stake in shares of Enbridge by 44.0% in the fourth quarter. Brown Advisory Inc. now owns 22,290 shares of the pipeline company’s stock worth $939,000 after buying an additional 6,815 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Enbridge by 34.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,520 shares of the pipeline company’s stock worth $400,000 after buying an additional 2,447 shares during the period. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Enbridge during the fourth quarter worth about $1,634,000. Institutional investors and hedge funds own 62.93% of the company’s stock.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Shares of Enbridge Inc (ENB) opened at 39.02 on Friday. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77. The firm has a market cap of $63.95 billion, a PE ratio of 43.21 and a beta of 0.61. The firm has a 50-day moving average of $39.46 and a 200 day moving average of $41.49.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were issued a $0.4435 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.77 dividend on an annualized basis and a dividend yield of 4.55%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is 208.14%.

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ENB has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of Enbridge in a research report on Tuesday, March 14th. They set an “outperform” rating and a $70.00 target price for the company. Wells Fargo & Company restated a “market perform” rating on shares of Enbridge in a research report on Friday, March 31st. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Morgan Stanley began coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.22.

Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ENB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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