Jupiter Topco LLC Purchases Shares of 982,542 Enbridge Inc $ENB

Key Points

• Jupiter Topco LLC acquired 982,542 Enbridge shares worth approximately $53.3 million in the second quarter. Institutional investors and hedge funds collectively own 54.6% of Enbridge.
• Analyst sentiment is cautiously positive, with six Buy and six Hold ratings, producing a “Moderate Buy” consensus and an average price target of $67.
• Enbridge reported quarterly EPS of $0.46, exceeding estimates of $0.43, and declared a quarterly dividend of $0.97 per share, representing an annualized yield of about 7.8%.

Jupiter Topco 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 13F filing with the Securities and Exchange Commission. The institutional investor acquired 982,542 shares of the pipeline company's stock, valued at approximately $53,268,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG purchased a new stake in Enbridge during the second quarter worth $1,850,502,000. Norges Bank purchased a new position in Enbridge in the fourth quarter valued at $1,195,559,000. Ontario Teachers Pension Plan Board purchased a new position in Enbridge in the second quarter valued at $467,782,000. Auto Owners Insurance Co raised its position in shares of Enbridge by 4,683.0% in the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company's stock worth $40,975,000 after acquiring an additional 8,387,721 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Enbridge in the second quarter worth about $412,627,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ENB shares. Raymond James Financial cut Enbridge from an "outperform" rating to a "market perform" rating in a research report on Friday, July 31st. Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. TD Securities reiterated a "hold" rating on shares of Enbridge in a research report on Thursday, July 16th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and an average 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 Performance

ENB opened at $49.97 on Friday. The firm's fifty day simple moving average is $53.73 and its two-hundred day simple moving average is $54.03. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a market cap of $109.13 billion, a price-to-earnings ratio of 26.72 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping 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 business had revenue of $9.70 billion during the quarter, compared to analysts' expectations of $8.67 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. Equities analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.8%. The ex-dividend date is Friday, August 14th. Enbridge's payout ratio is 147.06%.

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.

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