Enbridge Inc $ENB is Columbus Macro LLC’s 10th Largest Position

Columbus Macro LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 360,111 shares of the pipeline company’s stock after purchasing an additional 16,654 shares during the quarter. Enbridge accounts for about 1.9% of Columbus Macro LLC’s portfolio, making the stock its 10th largest position. Columbus Macro LLC’s holdings in Enbridge were worth $19,523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Enbridge in the fourth quarter worth $1,195,559,000. Auto Owners Insurance Co raised its position in Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after purchasing an additional 8,387,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Enbridge by 787.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,196,000 shares of the pipeline company’s stock valued at $173,189,000 after purchasing an additional 2,836,000 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Enbridge during the fourth quarter worth about $132,705,000. Finally, Vanguard Group Inc. lifted its stake in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $51.30 on Friday. The stock’s 50 day moving average price is $54.77 and its 200-day moving average price is $53.93. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market capitalization of $112.03 billion, a PE ratio of 27.43 and a beta of 0.58. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45.

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, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the business earned $0.65 EPS. On average, equities research analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is currently 152.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Finally, Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

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.