Enbridge Inc. (NYSE:ENB) Stock Position Lifted by Highland Capital Management LLC

Highland Capital Management LLC grew its stake in shares of Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 146.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,632 shares of the pipeline company’s stock after purchasing an additional 7,500 shares during the period. Highland Capital Management LLC’s holdings in Enbridge were worth $534,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Enbridge by 3.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,574 shares of the pipeline company’s stock valued at $303,000 after acquiring an additional 236 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Enbridge by 1.8% in the first quarter. Belpointe Asset Management LLC now owns 13,703 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 237 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Enbridge by 0.4% during the first quarter. Wedbush Securities Inc. now owns 55,429 shares of the pipeline company’s stock worth $2,555,000 after acquiring an additional 238 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Enbridge by 2.0% in the first quarter. Koshinski Asset Management Inc. now owns 12,562 shares of the pipeline company’s stock valued at $579,000 after purchasing an additional 245 shares during the last quarter. Finally, First City Capital Management Inc. grew its position in Enbridge by 5.3% during the first quarter. First City Capital Management Inc. now owns 4,984 shares of the pipeline company’s stock worth $230,000 after buying an additional 250 shares in the last quarter. 49.26% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.2 %

Shares of NYSE:ENB opened at $40.07 on Friday. The stock has a 50-day simple moving average of $42.76 and a 200-day simple moving average of $43.84. Enbridge Inc. has a 1 year low of $36.21 and a 1 year high of $47.67. The stock has a market capitalization of $81.13 billion, a P/E ratio of 21.09, a PEG ratio of 2.91 and a beta of 0.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.49 and a current ratio of 0.58.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last released its quarterly earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same period in the previous year, the business earned $0.55 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.3 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.668 dividend. This represents a $2.67 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date was Friday, August 12th. Enbridge’s dividend payout ratio (DPR) is currently 140.00%.

Analysts Set New Price Targets

ENB has been the subject of a number of research reports. Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price target for the company in a research note on Wednesday, August 3rd. Raymond James upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. National Bank Financial boosted their price target on shares of Enbridge from C$60.00 to C$61.00 in a research note on Tuesday, August 2nd. Finally, US Capital Advisors cut shares of Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.

Enbridge Company Profile

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Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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