Old North State Trust LLC Invests $562,000 in Enbridge Inc $ENB

Old North State Trust LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,361 shares of the pipeline company’s stock, valued at approximately $562,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Empowered Funds LLC raised its stake in shares of Enbridge by 24.2% in the first quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock valued at $5,956,000 after acquiring an additional 21,442 shares in the last quarter. SCS Capital Management LLC acquired a new position in Enbridge during the 2nd quarter worth $9,204,000. RNC Capital Management LLC increased its holdings in Enbridge by 1.6% during the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after purchasing an additional 22,637 shares during the period. Western Wealth Management LLC raised its position in Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after purchasing an additional 28,091 shares in the last quarter. Finally, Intact Investment Management Inc. raised its position in Enbridge by 22.8% in the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after purchasing an additional 183,163 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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 Stock Performance

Shares of ENB stock opened at $49.97 on Friday. The stock’s 50-day moving average is $53.73 and its two-hundred day moving average is $54.03. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The firm has a market cap of $109.13 billion, a price-to-earnings ratio of 26.72 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating 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 business had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the business earned $0.65 EPS. Analysts predict that Enbridge Inc will post 2.11 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 7.8%. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ENB. Raymond James Financial downgraded Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Finally, US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.