Global Retirement Partners LLC Takes Position in Enbridge Inc $ENB

Global Retirement Partners LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 52,493 shares of the pipeline company’s stock, valued at approximately $2,846,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Triumph Capital Management purchased a new stake in Enbridge in the 3rd quarter worth approximately $26,000. Arlington Trust Co LLC grew its position in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge during the 4th quarter valued at $29,000. Finally, Garner Asset Management Corp bought a new position in shares of Enbridge in the fourth quarter worth $30,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Down 0.0%

NYSE ENB opened at $50.89 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The stock’s 50-day simple moving average is $54.67 and its two-hundred day simple moving average is $53.95. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion during 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 in the prior year, the business earned $0.65 EPS. Research analysts forecast that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a 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.