OneDigital Investment Advisors LLC Invests $1.07 Million in Enbridge Inc $ENB

OneDigital Investment Advisors LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,751 shares of the pipeline company’s stock, valued at approximately $1,071,000.

Several other institutional investors also recently modified their holdings of ENB. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 2.1% during 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 during the period. RNC Capital Management LLC increased its position in Enbridge by 1.6% during 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 acquiring an additional 22,637 shares during the last quarter. SCS Capital Management LLC bought a new position in Enbridge in the second quarter valued at about $9,204,000. Western Wealth Management LLC boosted its position in Enbridge by 346.8% in the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after purchasing an additional 28,091 shares during the last quarter. Finally, Intact Investment Management Inc. grew its stake 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 valued at $47,275,000 after purchasing an additional 183,163 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE ENB opened at $50.63 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock has a market cap of $110.58 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58. The company’s 50 day moving average is $54.57 and its two-hundred day moving average is $53.97.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.7%. Enbridge’s dividend payout ratio is currently 147.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ENB shares. Wolfe Research set a $50.00 price target on shares of Enbridge in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

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.