Coastal Bridge Advisors LLC Invests $883,000 in Enbridge Inc $ENB

Coastal Bridge Advisors LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,290 shares of the pipeline company’s stock, valued at approximately $883,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Empowered Funds LLC boosted its position in Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock valued at $5,956,000 after purchasing an additional 21,442 shares during the period. SCS Capital Management LLC acquired a new stake in Enbridge in the second quarter worth $9,204,000. RNC Capital Management LLC lifted its stake in Enbridge by 1.6% in 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 buying an additional 22,637 shares during the last quarter. Western Wealth Management LLC lifted its stake in 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 buying an additional 28,091 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Enbridge by 22.8% in the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after buying an additional 183,163 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.8%

Enbridge stock opened at $49.97 on Friday. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The stock has a market capitalization of $109.13 billion, a PE ratio of 26.72 and a beta of 0.58. The firm has a 50 day simple moving average of $53.73 and a 200-day simple moving average of $54.03.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the previous year, the company earned $0.65 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. 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 payout ratio is currently 147.06%.

Enbridge News Roundup

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 (US$1.95 billion) of expansions to its Westcoast natural gas pipeline system in British Columbia. The Aspen Point and Sunrise projects are already sanctioned and supported by long-term contracts, while third-party capital reduces Enbridge’s upfront funding requirements and capital burden. Enbridge and KKR form Westcoast pipeline joint venture
• Positive Sentiment: Enbridge is acquiring Salt Creek Midstream’s crude gathering business in the Delaware Basin for US$600 million. The assets include about 500 miles of infrastructure, full ownership of the Orla and Wink North systems, and a 50% stake in Delaware Crossing. The deal expands Enbridge’s Permian footprint, strengthens its integrated crude export network, and is expected to add contracted earnings and cash flow after closing. Enbridge to buy Salt Creek Midstream crude assets
• Neutral Sentiment: Air monitoring following a gas leak during work on Enbridge’s Line 5 in Michigan’s Upper Peninsula found no hazardous gas levels. The incident appears contained, but investors may continue to monitor potential safety, regulatory, and operational consequences. Air monitoring after Enbridge Line 5 leak
• Negative Sentiment: The Salt Creek acquisition requires US$600 million in cash, adding near-term capital outlay to a company that already carries substantial debt. The expected benefits also depend on transaction closing, project execution, and continued activity in the Permian Basin.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Raymond James Financial downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to an “outperform” rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.