Markowski Investments Takes Position in Enbridge Inc $ENB

Markowski Investments acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 29,798 shares of the pipeline company’s stock, valued at approximately $1,615,000.

Several other large investors have also bought and sold shares of the company. Deutsche Bank AG bought a new position in shares of Enbridge during the 2nd quarter valued at about $1,850,502,000. Norges Bank bought a new stake in shares of Enbridge in the 4th quarter worth approximately $1,195,559,000. Geode Capital Management LLC lifted its stake 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 valued at $1,045,172,000 after purchasing an additional 1,415,995 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 valued at $1,117,353,000 after purchasing an additional 3,205,322 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings 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 in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Wolfe Research set a $50.00 price target on Enbridge in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Performance

ENB stock opened at $50.14 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 company has a market capitalization of $109.51 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 5.99 and a beta of 0.57. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The firm has a 50 day moving average of $53.12 and a two-hundred day moving average of $53.96.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $0.65 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge’s dividend payout ratio (DPR) is presently 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.