Susquehanna Fundamental Investments LLC Makes New Investment in Enbridge Inc $ENB

Susquehanna Fundamental Investments LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, Holdings Channel reports. The firm bought 243,200 shares of the pipeline company’s stock, valued at approximately $13,184,000.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $1,850,502,000. Norges Bank acquired a new position in Enbridge in the fourth quarter valued at approximately $1,195,559,000. Ontario Teachers Pension Plan Board acquired a new position in Enbridge in the second quarter valued at approximately $467,782,000. Auto Owners Insurance Co grew its position in Enbridge by 4,683.0% in the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after acquiring an additional 8,387,721 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Enbridge in the second quarter worth approximately $412,627,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce upgraded Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Down 0.1%

Enbridge stock opened at $50.17 on Monday. The company has a market capitalization of $109.57 billion, a PE ratio of 26.83 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The firm has a 50 day moving average price of $53.64 and a 200 day moving average price of $54.03.

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

Enbridge Dividend Announcement

The company also recently announced 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. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

Enbridge News Roundup

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

Enbridge Company 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.