NEOS Investment Management LLC Increases Holdings in Enbridge Inc $ENB

NEOS Investment Management LLC increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 39.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,177,198 shares of the pipeline company’s stock after buying an additional 335,580 shares during the quarter. NEOS Investment Management LLC’s holdings in Enbridge were worth $63,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Triumph Capital Management purchased a new position in shares of Enbridge during the third quarter worth approximately $26,000. Arlington Trust Co LLC boosted its stake in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC bought a new position in shares of Enbridge during the 4th quarter valued at $29,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.5%

Shares of NYSE ENB opened at $50.54 on Friday. 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 Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The firm’s fifty day moving average is $53.24 and its 200 day moving average is $53.98. The company has a market cap of $110.38 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 5.97 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 company had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period in the prior year, the business posted $0.65 EPS. On average, equities research analysts expect that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio is 147.06%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Wolfe Research set a $50.00 target price on Enbridge in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Enbridge presently has an average 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.