Susquehanna Fundamental Investments LLC Makes New Investment in Enbridge Inc $ENB

Susquehanna Fundamental Investments LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 243,200 shares of the pipeline company’s stock, valued at approximately $13,184,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Sigma Planning Corp raised its stake in shares of Enbridge by 1.5% during the 2nd quarter. Sigma Planning Corp now owns 44,747 shares of the pipeline company’s stock worth $2,426,000 after buying an additional 653 shares during the period. Two Sigma Securities LLC acquired a new stake in Enbridge in the 2nd quarter valued at $2,788,000. Benjamin Edwards Inc. increased its holdings in Enbridge by 1.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 76,783 shares of the pipeline company’s stock worth $4,163,000 after acquiring an additional 1,249 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Enbridge by 6.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187,911 shares of the pipeline company’s stock worth $10,187,000 after acquiring an additional 11,392 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in Enbridge by 2.4% during the second quarter. Wedbush Securities Inc. now owns 36,923 shares of the pipeline company’s stock worth $2,002,000 after acquiring an additional 856 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.1%

Shares of NYSE ENB opened at $50.17 on Monday. The stock has a market cap of $109.57 billion, a PE ratio of 26.83 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The company has a 50-day moving average of $53.64 and a 200 day moving average of $54.03.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion for 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 period last year, the company posted $0.65 EPS. As a group, sell-side analysts predict that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

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

Key Enbridge News

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to form a joint venture with KKR and Apollo to fund approximately C$2.7 billion in expansions of its Westcoast natural-gas pipeline system in British Columbia. Bringing in private capital should reduce Enbridge’s direct funding requirements while allowing it to retain an interest and benefit from long-term contracted infrastructure growth. Enbridge, KKR form joint venture to invest in Westcoast natural gas pipeline
• Positive Sentiment: The company is also buying Salt Creek Midstream’s crude-gathering assets in the Permian Basin for about US$600 million. The acquisition adds roughly 500 miles of pipeline infrastructure, expands Enbridge’s regional footprint and is expected to contribute contracted earnings and cash flow after closing. Enbridge buying Salt Creek Midstream’s crude oil gathering business for $600M
• Positive Sentiment: Analysts continue to view Enbridge as an income-oriented investment, citing diversified, largely contracted cash flows and a dividend yield of approximately 5.6%. Its multiyear capital program and inflation-linked contracts may support stable cash generation, although they also limit exposure to commodity-price upside. Enbridge: A Reasonable Choice For Income And Capital Preservation
• Neutral Sentiment: Air monitoring following a Line 5 leak reportedly found no hazardous gas levels, reducing immediate public-health concerns. Air monitoring shows no hazardous levels of gases after leak on Enbridge’s Line 5
• Negative Sentiment: Wisconsin regulators have asked Enbridge to halt work on the Line 5 reroute after the leak, raising the possibility of construction delays, added costs and increased scrutiny. Wisconsin asks Enbridge to halt Line 5 reroute work after spill
• Negative Sentiment: Michigan Governor Gretchen Whitmer filed a brief challenging Enbridge’s right to operate Line 5 through the Straits of Mackinac, describing the pipeline as a potential danger. The legal challenge adds long-term uncertainty around a strategically important asset and could increase regulatory, litigation and remediation risks. Whitmer responds to Enbridge lawsuit over Line 5 pipeline

Analyst Ratings Changes

Several research firms have issued reports on ENB. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Raymond James Financial downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. TD Securities reiterated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.