Focus Partners Advisor Solutions LLC Purchases New Holdings in Enbridge Inc $ENB

Focus Partners Advisor Solutions LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 16,117 shares of the pipeline company’s stock, valued at approximately $874,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Triumph Capital Management acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $26,000. Arlington Trust Co LLC increased its position in 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 acquiring an additional 267 shares during the period. Turning Point Benefit Group Inc. bought a new position in Enbridge during the 3rd quarter worth $28,000. Inspire Investing LLC acquired a new position in shares of Enbridge in the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp acquired a new stake in shares of Enbridge in the 4th quarter valued at $30,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Wolfe Research set a $50.00 target price on shares of Enbridge in a report on Tuesday, August 4th. Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $50.63 on Tuesday. 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 $110.58 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a fifty day moving average price of $54.57 and a 200-day moving average price of $53.97.

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

Enbridge Announces Dividend

The business 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 of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.7%. Enbridge’s payout ratio is currently 147.06%.

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.