Two Sigma Securities LLC Invests $2.79 Million in Enbridge Inc $ENB

Two Sigma Securities LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 51,424 shares of the pipeline company’s stock, valued at approximately $2,788,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings 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 worth $5,956,000 after acquiring an additional 21,442 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter valued at $9,204,000. RNC Capital Management LLC increased its position 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 in the last quarter. Western Wealth Management LLC increased its position in Enbridge by 346.8% during the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after purchasing an additional 28,091 shares in the last quarter. Finally, Intact Investment Management Inc. raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $50.17 on Monday. The firm has a fifty day moving average of $53.64 and a 200-day moving average of $54.03. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. 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 firm has a market capitalization of $109.57 billion, a P/E ratio of 26.83 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 net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the business posted $0.65 EPS. As a group, analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Canadian Imperial Bank of Commerce upgraded Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday. Finally, Wolfe Research set a $50.00 price target on Enbridge in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

More Enbridge News

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 in expansions of its Westcoast natural-gas pipeline system in British Columbia. Bringing in private capital should reduce Enbridge’s direct funding requirements while allowing it to retain an interest and benefit from long-term contracted infrastructure growth. Enbridge, KKR form joint venture to invest in Westcoast natural gas pipeline
• Positive Sentiment: The company is also buying Salt Creek Midstream’s crude-gathering assets in the Permian Basin for about US$600 million. The acquisition adds roughly 500 miles of pipeline infrastructure, expands Enbridge’s regional footprint and is expected to contribute contracted earnings and cash flow after closing. Enbridge buying Salt Creek Midstream’s crude oil gathering business for $600M
• Positive Sentiment: Analysts continue to view Enbridge as an income-oriented investment, citing diversified, largely contracted cash flows and a dividend yield of approximately 5.6%. Its multiyear capital program and inflation-linked contracts may support stable cash generation, although they also limit exposure to commodity-price upside. Enbridge: A Reasonable Choice For Income And Capital Preservation
• Neutral Sentiment: Air monitoring following a Line 5 leak reportedly found no hazardous gas levels, reducing immediate public-health concerns. Air monitoring shows no hazardous levels of gases after leak on Enbridge’s Line 5
• Negative Sentiment: Wisconsin regulators have asked Enbridge to halt work on the Line 5 reroute after the leak, raising the possibility of construction delays, added costs and increased scrutiny. Wisconsin asks Enbridge to halt Line 5 reroute work after spill
• Negative Sentiment: Michigan Governor Gretchen Whitmer filed a brief challenging Enbridge’s right to operate Line 5 through the Straits of Mackinac, describing the pipeline as a potential danger. The legal challenge adds long-term uncertainty around a strategically important asset and could increase regulatory, litigation and remediation risks. Whitmer responds to Enbridge lawsuit over Line 5 pipeline

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.