Jupiter Topco LLC Invests $53.27 Million in Enbridge Inc $ENB

Jupiter Topco LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 982,542 shares of the pipeline company’s stock, valued at approximately $53,268,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG purchased a new stake in shares of Enbridge in the second quarter valued at approximately $1,850,502,000. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $1,195,559,000. Geode Capital Management LLC lifted its position in Enbridge by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after buying an additional 1,415,995 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Enbridge by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock worth $1,117,353,000 after buying an additional 3,205,322 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canadian Imperial Bank of Commerce upgraded Enbridge from a “neutral” rating to an “outperform” rating in a report on Thursday. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada raised their price objective on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Trending Headlines about Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to form a joint venture with KKR and Apollo to fund approximately C$2.7 billion (US$1.95 billion) of expansions to its Westcoast natural gas pipeline system in British Columbia. The Aspen Point and Sunrise projects are already sanctioned and supported by long-term contracts, while third-party capital reduces Enbridge’s upfront funding requirements and capital burden. Enbridge and KKR form Westcoast pipeline joint venture
• Positive Sentiment: Enbridge is acquiring Salt Creek Midstream’s crude gathering business in the Delaware Basin for US$600 million. The assets include about 500 miles of infrastructure, full ownership of the Orla and Wink North systems, and a 50% stake in Delaware Crossing. The deal expands Enbridge’s Permian footprint, strengthens its integrated crude export network, and is expected to add contracted earnings and cash flow after closing. Enbridge to buy Salt Creek Midstream crude assets
• Neutral Sentiment: Air monitoring following a gas leak during work on Enbridge’s Line 5 in Michigan’s Upper Peninsula found no hazardous gas levels. The incident appears contained, but investors may continue to monitor potential safety, regulatory, and operational consequences. Air monitoring after Enbridge Line 5 leak
• Negative Sentiment: The Salt Creek acquisition requires US$600 million in cash, adding near-term capital outlay to a company that already carries substantial debt. The expected benefits also depend on transaction closing, project execution, and continued activity in the Permian Basin.

Enbridge Trading Down 0.8%

ENB opened at $49.97 on Friday. The stock has a market capitalization of $109.13 billion, a PE ratio of 26.72 and a beta of 0.58. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45. 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 moving average price is $53.73 and its 200 day moving average price is $54.03.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 7.8%. 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.