Enbridge Inc $ENB is Columbus Macro LLC’s 2nd Largest Position

Columbus Macro LLC lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 343,457 shares of the pipeline company’s stock after purchasing an additional 12,004 shares during the period. Enbridge comprises about 2.0% of Columbus Macro LLC’s investment portfolio, making the stock its 2nd biggest position. Columbus Macro LLC’s holdings in Enbridge were worth $18,573,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ENB. Triumph Capital Management bought a new position in shares of Enbridge during the third quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter valued at about $28,000. Inspire Investing LLC bought a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Garner Asset Management Corp purchased a new stake in Enbridge during the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC bought a new position in Enbridge during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent research reports. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Up 1.5%

Shares of NYSE:ENB opened at $56.14 on Friday. 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 $122.62 billion, a PE ratio of 26.36 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock’s 50-day moving average is $55.05 and its 200 day moving average is $52.12.

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

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. 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 is currently 133.80%.

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.