Greenland Capital Management LP Buys Shares of 13,100 Enbridge Inc $ENB

Greenland Capital Management LP purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,100 shares of the pipeline company’s stock, valued at approximately $661,000.

Several other large investors have also made changes to their positions in ENB. Vanguard Group Inc. raised its position in Enbridge by 2.0% during the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock valued at $4,959,009,000 after purchasing an additional 1,892,491 shares in the last quarter. Norges Bank bought a new position in shares of Enbridge in the 2nd quarter valued at $1,113,368,000. Legal & General Group Plc raised its holdings in shares of Enbridge by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after buying an additional 207,243 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after buying an additional 2,989,992 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in shares of Enbridge by 0.3% during the 2nd quarter. Scotia Capital Inc. now owns 14,069,558 shares of the pipeline company’s stock worth $635,774,000 after buying an additional 37,589 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Trading Up 0.1%

Shares of NYSE ENB opened at $52.42 on Wednesday. The firm has a 50 day moving average price of $48.59 and a two-hundred day moving average price of $48.26. The stock has a market cap of $114.36 billion, a P/E ratio of 22.79 and a beta of 0.69. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.19. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.4%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio is 120.87%.

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.