507,626 Shares in Enbridge Inc $ENB Purchased by Ninepoint Partners LP

Ninepoint Partners LP purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 507,626 shares of the pipeline company’s stock, valued at approximately $27,518,000. Enbridge accounts for approximately 2.1% of Ninepoint Partners LP’s holdings, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in Enbridge during the fourth quarter worth about $261,000. AQR Capital Management LLC increased its stake in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the last quarter. AXA S.A. raised its position in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after acquiring an additional 15,259 shares during the period. Diversify Advisory Services LLC raised its position in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after acquiring an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after acquiring an additional 34,912 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.6%

ENB opened at $51.07 on Friday. The stock has a market capitalization of $111.54 billion, a P/E ratio of 27.31 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The firm’s fifty day simple moving average is $54.26 and its 200 day simple moving average is $54.02.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, research analysts anticipate that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ENB shares. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Royal Bank Of Canada upped their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus price target 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.