Private Advisory Group LLC Invests $6.22 Million in Enbridge Inc $ENB

Key Points

• Private Advisory Group LLC acquired 114,683 Enbridge shares worth approximately $6.22 million during the second quarter. Institutional investors and hedge funds collectively own 54.6% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and seven Holds; Enbridge has an average rating of Hold and an average price target of $67.
• Enbridge exceeded quarterly earnings and revenue expectations, reporting $0.46 EPS and $9.70 billion in revenue. The company also declared a quarterly dividend of $0.97 per share, representing a 7.6% annualized yield.

Private Advisory Group 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 Form 13F filing with the Securities & Exchange Commission. The fund acquired 114,683 shares of the pipeline company's stock, valued at approximately $6,217,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company's stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Norges Bank bought a new stake in Enbridge in the fourth quarter valued at approximately $1,195,559,000. Geode Capital Management LLC increased its position in Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company's stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares during the period. Legal & General Group Plc lifted its position in shares of Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company's stock worth $942,806,000 after purchasing an additional 858,323 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Enbridge by 4.9% in the 4th quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company's stock valued at $870,577,000 after purchasing an additional 844,594 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ENB shares. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research report on Tuesday, August 4th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research report on Monday, August 3rd. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. TD Securities reissued a "hold" rating on shares of Enbridge in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Enbridge has an average rating of "Hold" and an average price target of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $50.89 on Friday. The company has a fifty day moving average of $54.67 and a 200-day moving average of $53.91. The firm has a market capitalization of $111.15 billion, a P/E ratio of 27.22 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 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 released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the previous year, the company earned $0.65 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 7.6%. Enbridge's dividend payout ratio is currently 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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