SG Americas Securities LLC Makes New Investment in Enbridge Inc $ENB

SG Americas Securities LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 159,704 shares of the pipeline company’s stock, valued at approximately $8,646,000.

Other hedge funds have also made changes to their positions in the company. Triumph Capital Management acquired a new position in shares of Enbridge during the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. acquired a new stake in Enbridge in the 3rd quarter valued at about $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the 4th quarter valued at about $29,000. Imprint Wealth LLC purchased a new position in Enbridge during the 3rd quarter valued at about $31,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Seven investment 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, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Up 0.1%

Shares of NYSE ENB opened at $56.24 on Friday. The firm has a market cap of $122.84 billion, a P/E ratio of 26.41 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The firm’s 50 day moving average price is $55.12 and its 200 day moving average price is $52.15.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the firm posted $1.03 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge’s payout ratio is currently 133.80%.

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.