Focus Partners Advisor Solutions LLC Takes $874,000 Position in Enbridge Inc $ENB

Focus Partners Advisor Solutions LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,117 shares of the pipeline company’s stock, valued at approximately $874,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Enbridge in the 4th quarter worth approximately $261,000. AQR Capital Management LLC boosted 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 during the last quarter. AXA S.A. boosted its position in Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC increased its stake in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 34,912 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ENB shares. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Royal Bank Of Canada upped their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Down 0.5%

ENB opened at $50.63 on Tuesday. The firm has a market cap of $110.58 billion, a PE ratio of 27.07 and a beta of 0.58. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. 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 firm’s fifty day moving average is $54.57 and its two-hundred day moving average is $53.97.

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, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities research analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

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.