Ninepoint Partners LP Has $13.25 Million Holdings in Enbridge Inc $ENB

Ninepoint Partners LP lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 154.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,660 shares of the pipeline company’s stock after purchasing an additional 159,301 shares during the quarter. Enbridge accounts for about 1.7% of Ninepoint Partners LP’s portfolio, making the stock its 8th largest position. Ninepoint Partners LP’s holdings in Enbridge were worth $13,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Clare Market Investments LLC increased its holdings in shares of Enbridge by 12.2% during the third quarter. Clare Market Investments LLC now owns 28,774 shares of the pipeline company’s stock worth $1,452,000 after buying an additional 3,125 shares in the last quarter. Choreo LLC raised its position in Enbridge by 1.7% in the third quarter. Choreo LLC now owns 31,400 shares of the pipeline company’s stock valued at $1,584,000 after purchasing an additional 536 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Enbridge by 0.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 192,537 shares of the pipeline company’s stock valued at $9,715,000 after purchasing an additional 1,485 shares during the last quarter. Interchange Capital Partners LLC acquired a new stake in shares of Enbridge during the third quarter valued at about $241,000. Finally, AlphaCore Capital LLC grew its holdings in shares of Enbridge by 5.0% during the third quarter. AlphaCore Capital LLC now owns 54,535 shares of the pipeline company’s stock worth $2,752,000 after purchasing an additional 2,615 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ENB shares. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Citigroup reiterated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Price Performance

Shares of NYSE ENB opened at $53.17 on Friday. The company has a market capitalization of $116.00 billion, a PE ratio of 23.12 and a beta of 0.69. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $54.19. The firm has a fifty day simple moving average of $48.95 and a 200 day simple moving average of $48.36.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the business posted $0.75 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is 120.87%.

Enbridge Company 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.