287,986 Shares in Enbridge Inc $ENB Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 287,986 Enbridge shares during the second quarter, valued at approximately $12 million. Institutional investors collectively own 54.6% of the company.
• Analyst sentiment is moderately positive, with six Buy and six Hold ratings and an average price target of $67. Enbridge recently exceeded quarterly earnings and revenue expectations, reporting $0.46 EPS and $9.70 billion in revenue.
• Enbridge declared a quarterly dividend of $0.97 per share, equivalent to an annualized $3.88 payout and a 7.7% yield, although its dividend payout ratio remains elevated at 147.1%.

Corient Private Wealth LP purchased a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 287,986 shares of the pipeline company's stock, valued at approximately $11,996,000.

Several other large investors have also recently modified their holdings of the stock. Retirement Planning Group LLC increased its position in shares of Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company's stock valued at $290,000 after acquiring an additional 187 shares in the last quarter. Bank & Trust Co lifted its position in Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company's stock valued at $1,804,000 after acquiring an additional 193 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company's stock valued at $1,710,000 after acquiring an additional 194 shares in the last quarter. PFG Investments LLC boosted its stake in Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company's stock valued at $1,202,000 after purchasing an additional 202 shares during the last quarter. Finally, MIdWestOne Financial Group Inc. boosted its stake in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company's stock valued at $235,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Securities reiterated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Wolfe Research set a $50.00 target price on shares of Enbridge in a research note on Tuesday, August 4th. Raymond James Financial downgraded shares of Enbridge from an "outperform" rating to a "market perform" rating in a report on Friday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research note on Wednesday, August 19th. Finally, US Capital Advisors raised shares of Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $50.17 on Friday. The company's 50-day moving average price is $53.64 and its 200-day moving average price is $54.00. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a market cap of $109.57 billion, a PE ratio of 26.83 and a beta of 0.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter last year, the firm earned $0.65 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge's dividend payout ratio is 147.06%.

Trending Headlines about Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to form a joint venture with KKR and Apollo to fund approximately C$2.7 billion in expansions of its Westcoast natural-gas pipeline system in British Columbia. Bringing in private capital should reduce Enbridge’s direct funding requirements while allowing it to retain an interest and benefit from long-term contracted infrastructure growth. Enbridge, KKR form joint venture to invest in Westcoast natural gas pipeline
• Positive Sentiment: The company is also buying Salt Creek Midstream’s crude-gathering assets in the Permian Basin for about US$600 million. The acquisition adds roughly 500 miles of pipeline infrastructure, expands Enbridge’s regional footprint and is expected to contribute contracted earnings and cash flow after closing. Enbridge buying Salt Creek Midstream's crude oil gathering business for $600M
• Positive Sentiment: Analysts continue to view Enbridge as an income-oriented investment, citing diversified, largely contracted cash flows and a dividend yield of approximately 5.6%. Its multiyear capital program and inflation-linked contracts may support stable cash generation, although they also limit exposure to commodity-price upside. Enbridge: A Reasonable Choice For Income And Capital Preservation
• Neutral Sentiment: Air monitoring following a Line 5 leak reportedly found no hazardous gas levels, reducing immediate public-health concerns. Air monitoring shows no hazardous levels of gases after leak on Enbridge’s Line 5
• Negative Sentiment: Wisconsin regulators have asked Enbridge to halt work on the Line 5 reroute after the leak, raising the possibility of construction delays, added costs and increased scrutiny. Wisconsin asks Enbridge to halt Line 5 reroute work after spill
• Negative Sentiment: Michigan Governor Gretchen Whitmer filed a brief challenging Enbridge’s right to operate Line 5 through the Straits of Mackinac, describing the pipeline as a potential danger. The legal challenge adds long-term uncertainty around a strategically important asset and could increase regulatory, litigation and remediation risks. Whitmer responds to Enbridge lawsuit over Line 5 pipeline

Enbridge Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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