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

Kayne Anderson Capital Advisors LP increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 48.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,607,157 shares of the pipeline company’s stock after purchasing an additional 1,508,300 shares during the period. Enbridge makes up approximately 5.1% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 10th largest position. Kayne Anderson Capital Advisors LP owned 0.21% of Enbridge worth $232,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 2.0% during the third quarter. Vanguard Group Inc. now owns 98,297,477 shares of the pipeline company’s stock worth $4,959,009,000 after buying an additional 1,892,491 shares during the last quarter. Norges Bank bought a new stake in shares of Enbridge in the second quarter valued at approximately $1,113,368,000. Legal & General Group Plc grew its stake in shares of Enbridge by 1.1% in the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after acquiring an additional 207,243 shares during the last quarter. Geode Capital Management LLC increased its position in Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after acquiring an additional 2,989,992 shares during the period. Finally, Scotia Capital Inc. raised its stake in Enbridge by 0.3% during the 2nd quarter. Scotia Capital Inc. now owns 14,069,558 shares of the pipeline company’s stock valued at $635,774,000 after purchasing an additional 37,589 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.1%

ENB stock opened at $52.42 on Wednesday. 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 firm has a market cap of $114.36 billion, a P/E ratio of 22.79 and a beta of 0.69. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.19. The business’s 50 day moving average is $48.59 and its 200-day moving average is $48.26.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.4%. Enbridge’s dividend payout ratio is 120.87%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ENB shares. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Company 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.