Centaurus Financial Inc. Purchases New Position in Enbridge Inc $ENB

Centaurus Financial Inc. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,406 shares of the pipeline company’s stock, valued at approximately $835,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arlington Trust Co LLC grew its stake in shares of Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after buying an additional 267 shares during the last quarter. Triumph Capital Management bought a new position in shares of Enbridge in the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC bought a new stake in Enbridge during the 4th quarter worth $29,000. Finally, Imprint Wealth LLC bought a new stake in Enbridge during the 3rd quarter worth $31,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.5%

Shares of NYSE:ENB opened at $50.17 on Friday. The firm has a market cap of $109.57 billion, a P/E ratio of 26.83 and a beta of 0.58. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The business has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $54.00. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the previous year, the company posted $0.65 EPS. Analysts predict that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

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

Enbridge News Summary

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

Wall Street Analyst Weigh In

Several research firms have commented on ENB. Raymond James Financial downgraded Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Wolfe Research set a $50.00 price objective on shares of Enbridge in a report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus 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.