Capital Advisors Inc. OK Grows Holdings in Enbridge Inc $ENB

Key Points

• Capital Advisors Inc. OK increased its Enbridge stake by 16.5% in the second quarter, adding 210,225 shares to hold 1.49 million shares worth approximately $80.6 million. Institutional investors collectively own 54.6% of Enbridge.
• Enbridge beat quarterly earnings expectations, reporting $0.46 in adjusted earnings per share versus the $0.43 consensus, while revenue reached $9.70 billion compared with estimates of $8.67 billion.
• The company declared a quarterly dividend of $0.97 per share, equivalent to a 7.6% annualized yield. Analysts have a consensus “Hold” rating, with an average price target of $67 versus the reported share price of $51.30.

Capital Advisors Inc. OK grew its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,487,241 shares of the pipeline company's stock after purchasing an additional 210,225 shares during the period. Enbridge accounts for about 1.2% of Capital Advisors Inc. OK's investment portfolio, making the stock its 23rd largest position. Capital Advisors Inc. OK owned about 0.07% of Enbridge worth $80,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triumph Capital Management purchased a new position in shares of Enbridge during the third quarter valued at approximately $26,000. Arlington Trust Co LLC lifted its stake in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after purchasing an additional 267 shares during the period. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the 3rd quarter worth $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $29,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Enbridge in the fourth quarter valued at $30,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.3%

Shares of NYSE:ENB opened at $51.30 on Friday. The stock has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $53.93. The stock has a market capitalization of $112.03 billion, a P/E ratio of 27.43 and a beta of 0.58. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

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

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge's dividend payout ratio is currently 152.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ENB shares. Wolfe Research set a $50.00 target price on Enbridge in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a report on Friday, May 22nd. TD Securities restated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed 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 research note on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $67.00.

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.

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source