Ieq Capital LLC Has $2.04 Million Stake in Enbridge Inc $ENB

Ieq Capital LLC grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 72.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,596 shares of the pipeline company’s stock after buying an additional 15,843 shares during the period. Ieq Capital LLC’s holdings in Enbridge were worth $2,038,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ENB. Empowered Funds LLC boosted its holdings in shares of Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock worth $5,956,000 after buying an additional 21,442 shares during the period. SCS Capital Management LLC acquired a new position in Enbridge during the 2nd quarter worth $9,204,000. Vanguard Group Inc. boosted its holdings in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. RNC Capital Management LLC boosted its holdings in Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock valued at $69,196,000 after acquiring an additional 22,637 shares during the period. Finally, Western Wealth Management LLC grew its position in shares of Enbridge by 346.8% in the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after purchasing an additional 28,091 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $49.74 on Wednesday. The stock has a 50 day moving average of $53.90 and a two-hundred day moving average of $54.03. 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 market capitalization of $108.63 billion, a P/E ratio of 26.60 and a beta of 0.58.

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

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is presently 147.06%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ENB shares. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 target price on shares of Enbridge in a research note on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge 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.