52,493 Shares in Enbridge Inc $ENB Purchased by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC initiated a position in Enbridge by purchasing 52,493 shares valued at approximately $2.85 million. Institutional investors collectively own 54.6% of the company.
• Enbridge reported quarterly EPS of $0.46, exceeding estimates of $0.43, while revenue reached $9.70 billion versus the $8.67 billion consensus estimate.
• Enbridge declared a quarterly dividend of $0.97 per share, equivalent to an annualized payout of $3.88 and a 7.6% yield. Analysts maintain a consensus “Hold” rating with a $67 price target.

Global Retirement Partners LLC acquired a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,493 shares of the pipeline company's stock, valued at approximately $2,846,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company's stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. RNC Capital Management LLC grew its holdings in Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company's stock valued at $69,196,000 after purchasing an additional 22,637 shares during the period. Western Wealth Management LLC increased its position in Enbridge by 346.8% in the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock worth $1,959,000 after buying an additional 28,091 shares during the last quarter. Intact Investment Management Inc. increased its position in Enbridge by 22.8% in the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company's stock worth $47,275,000 after buying an additional 183,163 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Enbridge by 19.9% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 601,500 shares of the pipeline company's stock valued at $28,770,000 after buying an additional 100,000 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.0%

Shares of ENB stock opened at $50.89 on Monday. The company's fifty day simple moving average is $54.67 and its two-hundred day simple moving average is $53.95. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The stock has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.6%. Enbridge's dividend payout ratio is 147.06%.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. TD Securities reissued a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Scotiabank restated an "outperform" rating on shares of Enbridge in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Enbridge has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge 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.

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