Opal Capital LLC Takes Position in Enbridge Inc $ENB

Opal Capital LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 208,917 shares of the pipeline company’s stock, valued at approximately $9,993,000. Enbridge comprises about 2.5% of Opal Capital LLC’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Brighton Jones LLC purchased a new position in Enbridge during the 4th quarter worth $261,000. AQR Capital Management LLC increased its holdings in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares in the last quarter. AXA S.A. increased its holdings in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC grew its stake in Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after acquiring an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after acquiring an additional 34,912 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $55.68 on Wednesday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a market cap of $121.59 billion, a price-to-earnings ratio of 26.14 and a beta of 0.58. 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 firm has a fifty day moving average of $54.90 and a 200-day moving average of $51.79.

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 the consensus estimate of $0.69 by $0.02. The company 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 in the previous year, the company posted $1.03 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.0%. Enbridge’s dividend payout ratio is presently 133.80%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada increased their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Seven 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

About Enbridge

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.