26,623 Shares in Enbridge Inc $ENB Bought by Strategic Investment Advisors MI

Key Points

• Strategic Investment Advisors MI bought 26,623 Enbridge shares in the first quarter, valued at approximately $1.44 million; institutional investors collectively own 54.6% of the company.
• Analysts maintain a generally positive outlook, with six Buy and six Hold ratings producing a “Moderate Buy” consensus and an average price target of $66.50.
• Enbridge reported quarterly EPS of $0.71, exceeding estimates, and declared a quarterly dividend of $0.97 per share, equating to a 7.0% annualized yield.

Strategic Investment Advisors MI purchased a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,623 shares of the pipeline company's stock, valued at approximately $1,441,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Enbridge during the fourth quarter worth about $261,000. AQR Capital Management LLC increased its holdings in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company's stock worth $1,264,000 after buying an additional 11,599 shares during the period. AXA S.A. increased its holdings in Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company's stock worth $5,161,000 after buying an additional 15,259 shares during the period. Diversify Advisory Services LLC raised its position in Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company's stock worth $1,042,000 after buying an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company's stock worth $3,553,000 after buying an additional 34,912 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a report on Friday, May 22nd. Scotiabank reissued an "outperform" rating on shares of Enbridge in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. TD Securities reaffirmed a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Enbridge in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.50.

Enbridge Trading Down 0.2%

Shares of NYSE:ENB opened at $55.14 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $44.80 and a 12-month high of $58.45. The business has a 50 day moving average of $55.64 and a two-hundred day moving average of $53.50. The company has a market capitalization of $120.43 billion, a PE ratio of 25.89 and a beta of 0.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the company earned $1.03 EPS. As a group, analysts forecast that Enbridge Inc will post 2.13 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, August 14th. Enbridge's dividend payout ratio (DPR) 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.

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