Enbridge Inc $ENB Shares Bought by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,727,626 shares of the pipeline company’s stock after acquiring an additional 255,940 shares during the quarter. Caisse de depot et placement du Quebec owned approximately 0.22% of Enbridge worth $256,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Retirement Planning Group LLC boosted its stake in shares of Enbridge by 3.6% in the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after purchasing an additional 187 shares during the period. Bank & Trust Co raised its stake in Enbridge by 0.6% in the second quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after purchasing an additional 194 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 202 shares in the last quarter. Finally, MIdWestOne Financial Group Inc. grew its holdings in shares of Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Trending Headlines about Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Permian Basin expansion: Enbridge agreed to acquire Salt Creek Midstream’s crude oil gathering business for US$600 million in cash. The assets include approximately 500 miles of infrastructure in the Delaware Basin, including full ownership of the Orla and Wink North systems and a 50% interest in the Delaware Crossing system. The deal expands Enbridge’s integrated crude oil gathering and export operations in a prolific U.S. production region and could provide additional fee-based cash flow. Reuters acquisition report
• Neutral Sentiment: Line 5 leak contained: A truck-related incident during work on Enbridge’s Line 5 in northeastern Wisconsin caused a gas leak and prompted evacuations of nearby homes. Subsequent air monitoring reportedly found no hazardous gas levels, reducing the immediate health and operational risk, although the event could renew scrutiny of the pipeline and create potential regulatory or liability concerns. Wisconsin Public Radio Line 5 report
• Negative Sentiment: Short interest has surged: Short interest reached 69.8 million shares as of August 14, up 124.1% from July 30 and equivalent to about 3.2% of shares outstanding. The roughly 9.9-day short-interest ratio indicates increased bearish positioning and could weigh on sentiment, despite also creating the possibility of short-covering if positive news continues.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Royal Bank Of Canada raised their target price on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Wolfe Research set a $50.00 price objective on Enbridge in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Trading Up 1.3%

ENB opened at $50.38 on Thursday. Enbridge Inc has a 52-week low of $45.03 and a 52-week 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 firm has a market capitalization of $110.03 billion, a P/E ratio of 26.94 and a beta of 0.58. The firm’s 50 day moving average is $53.82 and its 200-day moving average is $54.03.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company 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 prior year, the company posted $0.65 EPS. Analysts expect that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given 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 (DPR) is currently 147.06%.

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.