Coastal Bridge Advisors LLC Buys New Shares in Enbridge Inc $ENB

Coastal Bridge Advisors LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, Holdings Channel reports. The fund bought 16,290 shares of the pipeline company’s stock, valued at approximately $883,000.

Several other hedge funds have also recently added to or reduced their stakes in ENB. Triumph Capital Management bought a new position in shares of Enbridge in the third quarter valued at $26,000. Arlington Trust Co LLC boosted its stake in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge in the 3rd quarter worth $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $29,000. Finally, Garner Asset Management Corp acquired a new stake in shares of Enbridge during the fourth quarter worth $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $49.97 on Friday. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The stock has a market cap of $109.13 billion, a PE ratio of 26.72 and a beta of 0.58. The business has a fifty day simple moving average of $53.73 and a 200-day simple moving average of $54.03.

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, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is 147.06%.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Canadian Imperial Bank of Commerce raised Enbridge from a “neutral” rating to an “outperform” rating in a report on Thursday. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Wolfe Research set a $50.00 target price on shares of Enbridge in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge News Summary

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to form a joint venture with KKR and Apollo to fund approximately C$2.7 billion (US$1.95 billion) of expansions to its Westcoast natural gas pipeline system in British Columbia. The Aspen Point and Sunrise projects are already sanctioned and supported by long-term contracts, while third-party capital reduces Enbridge’s upfront funding requirements and capital burden. Enbridge and KKR form Westcoast pipeline joint venture
• Positive Sentiment: Enbridge is acquiring Salt Creek Midstream’s crude gathering business in the Delaware Basin for US$600 million. The assets include about 500 miles of infrastructure, full ownership of the Orla and Wink North systems, and a 50% stake in Delaware Crossing. The deal expands Enbridge’s Permian footprint, strengthens its integrated crude export network, and is expected to add contracted earnings and cash flow after closing. Enbridge to buy Salt Creek Midstream crude assets
• Neutral Sentiment: Air monitoring following a gas leak during work on Enbridge’s Line 5 in Michigan’s Upper Peninsula found no hazardous gas levels. The incident appears contained, but investors may continue to monitor potential safety, regulatory, and operational consequences. Air monitoring after Enbridge Line 5 leak
• Negative Sentiment: The Salt Creek acquisition requires US$600 million in cash, adding near-term capital outlay to a company that already carries substantial debt. The expected benefits also depend on transaction closing, project execution, and continued activity in the Permian Basin.

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.