Enbridge Inc $ENB Shares Acquired by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,098,857 shares of the pipeline company’s stock after buying an additional 161,377 shares during the quarter. Enbridge makes up approximately 3.2% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 10th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Enbridge were worth $140,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC grew its position in shares of Enbridge by 25.3% during the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after buying an additional 10,488 shares in the last quarter. 111 Capital acquired a new stake in shares of Enbridge in the second quarter valued at approximately $1,887,000. Loudon Investment Management LLC raised its stake in shares of Enbridge by 40.6% during the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after purchasing an additional 8,600 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Enbridge by 37.7% during the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 19,655 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Enbridge by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after acquiring an additional 32,268 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ENB shares. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Stock Performance

Enbridge stock opened at $46.59 on Thursday. The stock’s 50 day moving average price is $48.31 and its 200 day moving average price is $46.73. The firm has a market capitalization of $101.61 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 annualized dividend and a yield of 8.1%. Enbridge’s dividend payout ratio is presently 134.98%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.