Capital Innovations LLC Takes $8.84 Million Position in Enbridge Inc $ENB

Capital Innovations LLC purchased a new stake in Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 184,766 shares of the pipeline company’s stock, valued at approximately $8,837,000. Enbridge makes up about 2.5% of Capital Innovations LLC’s investment portfolio, making the stock its 18th biggest holding.

Other large investors have also made changes to their positions in the company. Tsfg LLC increased its holdings in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management acquired a new stake in Enbridge in the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the 3rd quarter valued at about $28,000. Garner Asset Management Corp acquired a new stake in Enbridge in the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new stake in Enbridge in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENB. Royal Bank Of Canada increased their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $66.50.

View Our Latest Stock Analysis on ENB

Enbridge Price Performance

Enbridge stock opened at $56.34 on Wednesday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The stock has a market capitalization of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58. The firm’s 50-day moving average is $54.47 and its two-hundred day moving average is $51.16. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period last year, the company earned $1.03 EPS. Equities analysts predict that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Enbridge Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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