Private Advisory Group LLC Makes New Investment in Enbridge Inc $ENB

Private Advisory Group LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, Holdings Channel reports. The fund acquired 114,683 shares of the pipeline company’s stock, valued at approximately $6,217,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management bought a new position in shares of Enbridge in the 3rd quarter worth $26,000. Arlington Trust Co LLC increased its stake in Enbridge by 114.6% during 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. bought a new stake in Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC acquired a new position in Enbridge during the fourth quarter worth $29,000. Finally, Garner Asset Management Corp acquired a new position in Enbridge during the fourth quarter worth $30,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $50.89 on Friday. 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 company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58. The firm’s fifty day moving average price is $54.67 and its two-hundred day moving average price is $53.91. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45.

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

Enbridge Dividend Announcement

The company 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. This represents a $3.88 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ENB shares. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Wolfe Research set a $50.00 price objective on Enbridge in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.