Markowski Investments Takes $1.61 Million Position in Enbridge Inc $ENB

Key Points

• Markowski Investments established a new Enbridge position of 29,798 shares valued at approximately $1.61 million. Institutional investors collectively own 54.6% of the company, with BlackRock adding an estimated $183.6 million stake during the second quarter.
• Analyst sentiment is generally positive, with Enbridge carrying a “Moderate Buy” consensus rating and an average price target of $67.00. Recent quarterly results exceeded expectations, with earnings of $0.46 per share versus the $0.43 consensus and revenue of $9.70 billion.
• Enbridge recently paid a quarterly dividend of $0.97 per share, representing an annualized dividend of $3.88 and a 7.7% yield; however, its dividend payout ratio is high at 147.06%.

Markowski Investments bought a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,798 shares of the pipeline company's stock, valued at approximately $1,615,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Enbridge by 24.2% during the first quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company's stock worth $5,956,000 after purchasing an additional 21,442 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Enbridge during the second quarter valued at approximately $9,204,000. Western Wealth Management LLC raised its stake in Enbridge by 346.8% during the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock valued at $1,959,000 after buying an additional 28,091 shares in the last quarter. BlackRock Inc. bought a new position in Enbridge during the 2nd quarter worth approximately $183,623,000. Finally, Energy Income Partners LLC acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $31,292,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Securities reiterated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce raised shares of Enbridge from a "neutral" rating to a "sector outperform" rating in a report on Thursday, August 27th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a report on Wednesday, August 19th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $50.14 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 stock has a 50 day simple moving average of $53.12 and a 200-day simple moving average of $53.96. The company has a market cap of $109.51 billion, a PE ratio of 26.81, a P/E/G ratio of 5.99 and a beta of 0.57. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45.

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

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.7%. Enbridge's dividend payout ratio is presently 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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