Triasima Portfolio Management inc. Raises Stock Holdings in Enbridge Inc $ENB

Triasima Portfolio Management inc. increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 21.8% in the second quarter, Holdings Channel.com reports. The fund owned 177,163 shares of the pipeline company’s stock after buying an additional 31,693 shares during the quarter. Enbridge comprises about 1.3% of Triasima Portfolio Management inc.’s portfolio, making the stock its 23rd largest holding. Triasima Portfolio Management inc.’s holdings in Enbridge were worth $9,604,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Triumph Capital Management bought a new position in Enbridge in the 3rd quarter valued at $26,000. Arlington Trust Co LLC lifted its position in shares of Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge during the third quarter valued at $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge during the fourth quarter valued at $29,000. Finally, Garner Asset Management Corp bought a new position in shares of Enbridge in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.3%

Enbridge stock opened at $51.44 on Thursday. 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’s 50-day simple moving average is $54.88 and its two-hundred day simple moving average is $53.91. The company has a market cap of $112.35 billion, a PE ratio of 27.51 and a beta of 0.58. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the business posted $0.65 EPS. Equities analysts anticipate that Enbridge Inc will post 2.1 EPS for the current year.

Enbridge Dividend Announcement

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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.5%. Enbridge’s payout ratio is currently 147.06%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted 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. 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 reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.00.

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.