United Capital Financial Advisors LLC Purchases Shares of 26,602 Enbridge Inc $ENB

United Capital Financial Advisors LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, Holdings Channel reports. The institutional investor acquired 26,602 shares of the pipeline company’s stock, valued at approximately $1,442,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Triumph Capital Management purchased a new stake in Enbridge in the third quarter valued at approximately $26,000. Arlington Trust Co LLC lifted its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the 3rd quarter valued at approximately $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge in the 4th quarter valued at $29,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Enbridge in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $50.17 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The stock has a market capitalization of $109.57 billion, a price-to-earnings ratio of 26.83 and a beta of 0.58. The firm’s 50 day simple moving average is $53.64 and its 200-day simple moving average is $54.00. Enbridge Inc has a 12 month low of $45.03 and a 12 month 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 (EPS) 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 firm had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the business posted $0.65 EPS. Analysts expect that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

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

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce raised Enbridge from a “neutral” rating to a “sector outperform” rating in a research report on Thursday. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Wolfe Research set a $50.00 price objective on Enbridge in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.