Equitable Holdings Inc. Takes $4.43 Million Position in Enbridge Inc $ENB

Key Points

• Equitable Holdings acquired 81,715 Enbridge shares in the second quarter, valued at approximately $4.43 million. Institutional investors collectively own 54.6% of Enbridge.
• Analyst sentiment remains moderately positive, with six Buy and six Hold ratings and a consensus price target of $67.00. Enbridge recently exceeded quarterly earnings and revenue expectations.
• Enbridge announced a quarterly dividend of $0.97 per share, representing an annualized payout of $3.88 and a 7.8% yield, while its stock opened at $49.97.

Equitable Holdings Inc. acquired a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 81,715 shares of the pipeline company's stock, valued at approximately $4,430,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. purchased a new stake in shares of Enbridge in the second quarter valued at $835,000. Coastal Bridge Advisors LLC purchased a new position in shares of Enbridge during the second quarter valued at $883,000. Public Employees Retirement System of Ohio acquired a new position in Enbridge during the second quarter valued at $9,313,000. Pure Financial Advisors LLC acquired a new position in Enbridge during the second quarter valued at $416,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Enbridge during the second quarter valued at $178,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENB has been the subject of a number of research reports. Canadian Imperial Bank of Commerce upgraded Enbridge from a "neutral" rating to an "outperform" rating in a research report on Thursday. Raymond James Financial lowered shares of Enbridge from an "outperform" rating to a "market perform" rating in a research report on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a report on Wednesday, August 19th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price objective on shares of Enbridge in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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 (US$1.95 billion) of expansions to its Westcoast natural gas pipeline system in British Columbia. The Aspen Point and Sunrise projects are already sanctioned and supported by long-term contracts, while third-party capital reduces Enbridge’s upfront funding requirements and capital burden. Enbridge and KKR form Westcoast pipeline joint venture
• Positive Sentiment: Enbridge is acquiring Salt Creek Midstream’s crude gathering business in the Delaware Basin for US$600 million. The assets include about 500 miles of infrastructure, full ownership of the Orla and Wink North systems, and a 50% stake in Delaware Crossing. The deal expands Enbridge’s Permian footprint, strengthens its integrated crude export network, and is expected to add contracted earnings and cash flow after closing. Enbridge to buy Salt Creek Midstream crude assets
• Neutral Sentiment: Air monitoring following a gas leak during work on Enbridge’s Line 5 in Michigan’s Upper Peninsula found no hazardous gas levels. The incident appears contained, but investors may continue to monitor potential safety, regulatory, and operational consequences. Air monitoring after Enbridge Line 5 leak
• Negative Sentiment: The Salt Creek acquisition requires US$600 million in cash, adding near-term capital outlay to a company that already carries substantial debt. The expected benefits also depend on transaction closing, project execution, and continued activity in the Permian Basin.

Enbridge Stock Down 0.8%

Shares of Enbridge stock opened at $49.97 on Friday. The firm has a market cap of $109.13 billion, a price-to-earnings ratio of 26.72 and a beta of 0.58. The stock has a 50-day simple moving average of $53.73 and a 200-day simple moving average of $54.03. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. 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 (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts expect that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued 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 dividend yield of 7.8%. Enbridge's dividend payout ratio (DPR) is currently 147.06%.

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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