Empowered Funds LLC Makes New Investment in Enbridge Inc $ENB

Empowered Funds LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 94,857 shares of the pipeline company’s stock, valued at approximately $5,142,000.

A number of other institutional investors also recently made changes to their positions in ENB. Retirement Planning Group LLC lifted its holdings in Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares during the last quarter. Bank & Trust Co grew its holdings in Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 194 shares in the last quarter. PFG Investments LLC increased its position in Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 202 shares during the period. Finally, MIdWestOne Financial Group Inc. increased its position in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after buying an additional 203 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent research reports. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Wolfe Research set a $50.00 price target on shares of Enbridge in a research report on Tuesday, August 4th. Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $50.65 on Tuesday. The stock’s fifty day moving average price is $53.56 and its two-hundred day moving average price is $54.02. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45. 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 firm has a market cap of $110.62 billion, a PE ratio of 27.09 and a beta of 0.58.

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

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is 147.06%.

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.