Ieq Capital LLC Buys 15,843 Shares of Enbridge Inc $ENB

Ieq Capital LLC boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 72.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,596 shares of the pipeline company’s stock after acquiring an additional 15,843 shares during the quarter. Ieq Capital LLC’s holdings in Enbridge were worth $2,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Deutsche Bank AG bought a new stake in shares of Enbridge during the second quarter worth $1,850,502,000. Norges Bank acquired a new position in Enbridge during the 4th quarter worth about $1,195,559,000. Ontario Teachers Pension Plan Board bought a new stake in Enbridge during the 2nd quarter worth about $467,782,000. Auto Owners Insurance Co increased its position in Enbridge by 4,683.0% in the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after acquiring an additional 8,387,721 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Enbridge in the second quarter worth about $412,627,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ENB. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Down 0.7%

NYSE:ENB opened at $49.74 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.72 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’s fifty day simple moving average is $53.90 and its 200-day simple moving average is $54.03. The firm has a market capitalization of $108.63 billion, a P/E ratio of 26.60 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

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

About Enbridge

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.