Silverlake Wealth Management LLC purchased a new stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,803 shares of the pipeline company’s stock, valued at approximately $911,000.
Other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC increased its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares during the period. Triumph Capital Management bought a new stake in shares of Enbridge during the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the 4th quarter worth $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth $31,000. 54.60% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ENB. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Royal Bank Of Canada boosted their target price 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. 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 MarketBeat.com, Enbridge has an average rating of “Hold” and an average price target of $67.00.
Enbridge Stock Performance
Enbridge stock opened at $50.89 on Friday. 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 has a market cap of $111.15 billion, a PE ratio of 27.22 and a beta of 0.58. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The business’s 50-day moving average price is $54.67 and its two-hundred day moving average price is $53.91.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 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 net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. Enbridge’s payout ratio is 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.
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