NewEdge Advisors LLC Reduces Position in Enbridge Inc $ENB

NewEdge Advisors LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 390,485 shares of the pipeline company’s stock after selling 11,872 shares during the quarter. NewEdge Advisors LLC’s holdings in Enbridge were worth $21,168,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in Enbridge during the 3rd quarter valued at approximately $26,000. Arlington Trust Co LLC raised its position 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. purchased a new position in shares of Enbridge during the 3rd quarter valued at approximately $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge during the 4th quarter valued at approximately $29,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Royal Bank Of Canada increased their price target on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce raised Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. Finally, National Bank Financial upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Trending Headlines about Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to acquire Tallgrass’ crude transportation business for approximately US$2.55 billion. The assets include a 75% interest in the Pony Express pipeline, as well as storage and terminal infrastructure connecting Rocky Mountain production with Cushing, Oklahoma. Enbridge expects the deal to be accretive to distributable cash flow per share in the first full year, strengthening its U.S. liquids pipeline platform. Enbridge to Acquire Tallgrass’ Crude Transportation Business
• Positive Sentiment: National Bank Financial upgraded Enbridge from “hold” to “strong-buy,” adding analyst support after the recent pullback. Enbridge Analyst Upgrade
• Positive Sentiment: Short interest fell 47% between August 15 and August 31, leaving about 1.7% of shares sold short. The reduction suggests bearish positioning has eased and may provide technical support.
• Positive Sentiment: Investors continue to highlight Enbridge’s scale, diversified infrastructure portfolio and long dividend record, including 31 consecutive years of dividend increases. Enbridge Dividend Article
• Neutral Sentiment: Enbridge is also pursuing gas infrastructure growth, including a reported $33 million Enbridge Gas Ohio pipeline project, while broader midstream mergers are being driven by LNG, NGL and crude export demand. Enbridge Gas Ohio Pipeline Project
• Negative Sentiment: To help fund the Tallgrass acquisition and other opportunities, Enbridge launched a bought-deal offering of approximately C$2.6 billion, issuing 38.9 million shares at C$66.85. The added share count creates near-term dilution and overshadowed the acquisition’s expected cash-flow benefits. Enbridge Equity Offering and Tallgrass Analysis
• Negative Sentiment: Michigan Governor Gretchen Whitmer again urged Enbridge to shut down Line 5 and said the state is reconsidering related permits, maintaining regulatory and operational risk around the pipeline. Whitmer Line 5 Comments

Enbridge Price Performance

NYSE ENB opened at $48.24 on Friday. The company has a 50-day moving average price of $52.76 and a two-hundred day moving average price of $53.91. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The stock has a market cap of $105.36 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 5.95 and a beta of 0.57. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The company had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. Analysts forecast that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 8.0%. Enbridge’s payout ratio is presently 147.06%.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America’s largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge’s operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.