Barometer Capital Management Inc. Purchases 89,400 Shares of Enbridge Inc $ENB

Barometer Capital Management Inc. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1,064.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,800 shares of the pipeline company’s stock after purchasing an additional 89,400 shares during the period. Enbridge accounts for approximately 2.2% of Barometer Capital Management Inc.’s portfolio, making the stock its 15th largest position. Barometer Capital Management Inc.’s holdings in Enbridge were worth $5,295,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Triumph Capital Management bought a new position in Enbridge during the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $29,000. Garner Asset Management Corp purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Enbridge during the third quarter valued at approximately $31,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday. Finally, TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Down 0.5%

Shares of NYSE:ENB opened at $55.44 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a fifty day simple moving average of $55.68 and a two-hundred day simple moving average of $53.10. Enbridge Inc has a 12-month low of $44.58 and a 12-month high of $58.45. The stock has a market capitalization of $121.09 billion, a price-to-earnings ratio of 26.03 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

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.