EagleClaw Capital Managment LLC Makes New Investment in Enbridge Inc (NYSE:ENB)

Key Points

• EagleClaw Capital Management LLC acquired 7,273 shares of Enbridge Inc, valued at approximately $322,000, marking a new position in the company as per its recent SEC filing.
• Enbridge's dividend was increased to $0.6839 per share, representing a yield of 6.0%, with the next payout scheduled for September 1st to investors of record on August 15th.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Enbridge, with a target price set at $67.00, reflecting a positive outlook from multiple research reports.

EagleClaw Capital Managment LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,273 shares of the pipeline company's stock, valued at approximately $322,000.

Other hedge funds have also modified their holdings of the company. Alberta Investment Management Corp lifted its stake in Enbridge by 14.7% in the 1st quarter. Alberta Investment Management Corp now owns 4,233,236 shares of the pipeline company's stock worth $187,330,000 after acquiring an additional 541,147 shares in the last quarter. Wealthquest Corp purchased a new stake in Enbridge in the 1st quarter worth about $203,000. Brentview Investment Management LLC purchased a new stake in Enbridge in the 1st quarter worth about $41,000. Sound View Wealth Advisors Group LLC lifted its stake in Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock worth $235,000 after acquiring an additional 243 shares in the last quarter. Finally, Davis R M Inc. lifted its stake in Enbridge by 12.0% in the 1st quarter. Davis R M Inc. now owns 5,598 shares of the pipeline company's stock worth $248,000 after acquiring an additional 600 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Performance

ENB traded up $0.89 on Friday, hitting $46.18. The company had a trading volume of 4,569,736 shares, compared to its average volume of 3,778,053. The company's fifty day moving average price is $45.39 and its 200 day moving average price is $44.54. Enbridge Inc has a 1-year low of $36.50 and a 1-year high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The stock has a market cap of $100.69 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period in the previous year, the company earned $0.92 EPS. Equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.9%. Enbridge's dividend payout ratio is presently 140.21%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.