Nykredit A S Acquires New Shares in Enbridge Inc $ENB

Key Points

• Nykredit A/S acquired 1.11 million Enbridge shares during the second quarter, valued at approximately $60.3 million and representing about 0.05% of the company.
• Analyst sentiment is moderately bullish: Enbridge has a consensus “Moderate Buy” rating and an average price target of $67, while institutional investors and hedge funds own 54.6% of its shares.
• Enbridge reported quarterly EPS of $0.46, exceeding estimates, and maintains a sizable quarterly dividend of $0.97 per share, equivalent to a 7.7% yield.

Nykredit A S bought a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,111,486 shares of the pipeline company's stock, valued at approximately $60,253,000. Nykredit A S owned approximately 0.05% of Enbridge at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a "neutral" rating to a "sector outperform" rating in a research note on Thursday, August 27th. Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. Raymond James Financial lowered shares of Enbridge from an "outperform" rating to a "market perform" rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Down 0.7%

ENB opened at $50.35 on Thursday. The firm has a market cap of $109.96 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 6.01 and a beta of 0.57. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The business has a 50 day moving average price of $53.36 and a 200 day moving average price of $54.01. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly 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. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the company posted $0.65 earnings per share. Research analysts forecast that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge's dividend payout ratio is currently 147.06%.

Enbridge 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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