OneDigital Investment Advisors LLC Buys New Holdings in Enbridge Inc $ENB

OneDigital Investment Advisors LLC purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, HoldingsChannel reports. The fund purchased 19,751 shares of the pipeline company’s stock, valued at approximately $1,071,000.

A number of other institutional investors have also added to or reduced their stakes in ENB. Triumph Capital Management bought a new stake in shares of Enbridge during the third quarter valued at approximately $26,000. Arlington Trust Co LLC boosted its position in shares of Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares during the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the third quarter worth $28,000. Inspire Investing LLC purchased a new position in Enbridge during the fourth quarter valued at $29,000. Finally, Garner Asset Management Corp purchased a new position in Enbridge during the fourth quarter valued at $30,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of Enbridge stock opened at $50.63 on Tuesday. The stock has a market cap of $110.58 billion, a price-to-earnings ratio of 27.07 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. The stock has a 50 day moving average price of $54.57 and a 200-day moving average price of $53.97. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45.

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 the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the prior year, the firm posted $0.65 EPS. Equities analysts expect that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

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 dividend of $0.97 per share. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge’s payout ratio is 147.06%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ENB shares. Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.00.

About Enbridge

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.