Greenland Capital Management LP Invests $661,000 in Enbridge Inc $ENB

Greenland Capital Management LP acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 13,100 shares of the pipeline company’s stock, valued at approximately $661,000.

Other hedge funds have also bought and sold shares of the company. IHT Wealth Management LLC grew its holdings in Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after acquiring an additional 213 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Enbridge by 1.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares in the last quarter. Copperleaf Capital LLC boosted its position in shares of Enbridge by 3.6% during the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 217 shares in the last quarter. South Plains Financial Inc. grew its stake in Enbridge by 13.2% during the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in Enbridge by 2.9% in the third quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.1%

ENB stock opened at $52.42 on Wednesday. The stock has a market cap of $114.36 billion, a P/E ratio of 22.79 and a beta of 0.69. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock’s fifty day simple moving average is $48.59 and its two-hundred day simple moving average is $48.26. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the previous year, the business posted $0.75 EPS. Analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 7.4%. Enbridge’s dividend payout ratio is presently 120.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ENB. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.