Ninepoint Partners LP Has $13.25 Million Stock Holdings in Enbridge Inc $ENB

Ninepoint Partners LP lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 154.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 262,660 shares of the pipeline company’s stock after acquiring an additional 159,301 shares during the period. Enbridge accounts for about 1.7% of Ninepoint Partners LP’s portfolio, making the stock its 8th largest position. Ninepoint Partners LP’s holdings in Enbridge were worth $13,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Enbridge during the fourth quarter valued at about $261,000. AQR Capital Management LLC increased its position in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares in the last quarter. Daymark Wealth Partners LLC increased its position in Enbridge by 27.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 16,024 shares of the pipeline company’s stock valued at $726,000 after buying an additional 3,462 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Enbridge by 20.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 14,264 shares of the pipeline company’s stock worth $646,000 after buying an additional 2,468 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in Enbridge by 6.0% in the second quarter. HBK Sorce Advisory LLC now owns 12,209 shares of the pipeline company’s stock worth $553,000 after acquiring an additional 689 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ENB. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $53.17 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock has a market cap of $116.00 billion, a PE ratio of 23.12 and a beta of 0.69. The stock’s fifty day simple moving average is $48.95 and its two-hundred day simple moving average is $48.36. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business posted $0.75 EPS. As a group, analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 7.3%. Enbridge’s dividend payout ratio (DPR) is 120.87%.

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.