184,766 Shares in Enbridge Inc $ENB Bought by Capital Innovations LLC

Capital Innovations LLC purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 184,766 shares of the pipeline company’s stock, valued at approximately $8,837,000. Enbridge accounts for 2.5% of Capital Innovations LLC’s investment portfolio, making the stock its 18th largest holding.

Other large investors have also recently bought and sold shares of the company. Trajan Wealth LLC boosted its stake in Enbridge by 15.3% during the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares during the period. Principal Financial Group Inc. boosted its stake in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after purchasing an additional 24,165 shares during the period. Exchange Traded Concepts LLC boosted its stake in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after purchasing an additional 41,601 shares during the period. Viking Fund Management LLC boosted its stake in Enbridge by 35.2% during the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after purchasing an additional 61,500 shares during the period. Finally, Third View Private Wealth LLC acquired a new stake in Enbridge during the 4th quarter worth $3,691,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 2.6%

Shares of Enbridge stock opened at $56.34 on Wednesday. The firm has a fifty day moving average of $54.47 and a two-hundred day moving average of $51.16. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The company has a market cap of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the firm posted $1.03 EPS. On average, analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of recent research reports. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.50.

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.