Kayne Anderson Capital Advisors LP Has $232.48 Million Stock Holdings in Enbridge Inc $ENB

Kayne Anderson Capital Advisors LP lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 48.7% during the 3rd quarter, Holdings Channel reports. The fund owned 4,607,157 shares of the pipeline company’s stock after acquiring an additional 1,508,300 shares during the quarter. Enbridge makes up approximately 5.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 10th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Enbridge were worth $232,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Enbridge in the fourth quarter valued at about $261,000. AQR Capital Management LLC grew its holdings in Enbridge by 68.5% during the first 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 during the period. Ethic Inc. grew its holdings in shares of Enbridge by 69.0% in the 2nd quarter. Ethic Inc. now owns 9,922 shares of the pipeline company’s stock valued at $444,000 after buying an additional 4,050 shares during the period. Whipplewood Advisors LLC grew its stake in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Enbridge by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after purchasing an additional 32,268 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.1%

Enbridge stock opened at $52.42 on Wednesday. The company has a market cap of $114.36 billion, a price-to-earnings ratio of 22.79 and a beta of 0.69. The firm has a 50-day moving average of $48.59 and a 200-day moving average of $48.26. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a one year low of $39.73 and a one year high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is currently 120.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Seven equities 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, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.