Compound Planning Inc. Has $2.84 Million Holdings in Enbridge Inc $ENB

Compound Planning Inc. cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 18.8% in the first quarter, Holdings Channel.com reports. The firm owned 52,473 shares of the pipeline company’s stock after selling 12,134 shares during the period. Compound Planning Inc.’s holdings in Enbridge were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Exchange Traded Concepts LLC raised its stake in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after purchasing an additional 41,601 shares in the last quarter. Third View Private Wealth LLC bought a new stake in Enbridge in the 4th quarter valued at $3,691,000. Vanguard Group Inc. raised its stake in shares of Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. RNC Capital Management LLC raised its stake in shares of Enbridge by 1.6% in the 4th 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 in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in shares of Enbridge by 22.8% during the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after acquiring an additional 183,163 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday. Royal Bank Of Canada upped their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Trading Up 0.8%

Shares of Enbridge stock opened at $56.84 on Friday. The stock has a market capitalization of $124.13 billion, a P/E ratio of 26.68 and a beta of 0.58. 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 company has a 50-day simple moving average of $55.73 and a 200 day simple moving average of $53.24. Enbridge Inc has a 12-month low of $44.58 and a 12-month high of $58.45.

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

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. Enbridge’s payout ratio is 133.80%.

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.