26,623 Shares in Enbridge Inc $ENB Purchased by Strategic Investment Advisors MI

Strategic Investment Advisors MI acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,623 shares of the pipeline company’s stock, valued at approximately $1,441,000.

Several other institutional investors also recently bought and sold shares of the business. Triumph Capital Management acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the 3rd quarter valued at approximately $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the 4th quarter valued at $29,000. Garner Asset Management Corp acquired a new stake in Enbridge in the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC purchased a new stake in Enbridge in the 3rd quarter worth $31,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.2%

Shares of ENB opened at $55.14 on Thursday. Enbridge Inc has a 52-week low of $44.80 and a 52-week high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The firm’s fifty day moving average is $55.64 and its two-hundred day moving average is $53.50. The stock has a market cap of $120.43 billion, a PE ratio of 25.89 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the prior year, the business earned $1.03 earnings per share. Research analysts forecast that Enbridge Inc will post 2.13 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Ratings Changes

A number of research firms have weighed in on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.50.

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.