Man Group plc Has $12.28 Million Holdings in Enbridge Inc $ENB

Key Points

• Man Group reduced its Enbridge position by 23.5% in the second quarter, selling 69,499 shares and retaining 226,440 shares valued at approximately $12.28 million. Institutional investors collectively own 54.6% of Enbridge.
• Analysts give Enbridge a consensus “Moderate Buy” rating, with six Buy ratings and six Holds and an average price target of $67. The company also exceeded quarterly earnings expectations, reporting $0.46 EPS versus the $0.43 consensus estimate.
• Enbridge announced a quarterly dividend of $0.97 per share, or $3.88 annualized, representing a 7.8% yield. Shares opened at $49.97, while the company reported a market capitalization of roughly $109.1 billion.

Man Group plc lessened its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,440 shares of the pipeline company's stock after selling 69,499 shares during the period. Man Group plc's holdings in Enbridge were worth $12,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company's stock worth $5,956,000 after buying an additional 21,442 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of Enbridge in the 2nd quarter valued at about $9,204,000. RNC Capital Management LLC grew its holdings in shares of Enbridge by 1.6% in the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company's stock valued at $69,196,000 after acquiring an additional 22,637 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Enbridge by 346.8% in the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock valued at $1,959,000 after acquiring an additional 28,091 shares during the last quarter. Finally, Intact Investment Management Inc. raised its holdings in Enbridge by 22.8% during the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company's stock worth $47,275,000 after acquiring an additional 183,163 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Wolfe Research set a $50.00 price target on Enbridge in a research note on Tuesday, August 4th. TD Securities reissued a "hold" rating on shares of Enbridge in a research note on Thursday, July 16th. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce raised shares of Enbridge from a "neutral" rating to an "outperform" rating in a research report on Thursday. Finally, Royal Bank Of Canada lifted 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. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $49.97 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $109.13 billion, a P/E ratio of 26.72 and a beta of 0.58. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock has a 50 day moving average of $53.73 and a 200-day moving average of $54.03.

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 (EPS) for the quarter, beating 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 business had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the firm posted $0.65 EPS. As a group, equities research analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Friday, August 14th. Enbridge's dividend payout ratio (DPR) is currently 147.06%.

Enbridge News Summary

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 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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