Corient IA LLC Takes Position in Enbridge Inc $ENB

Corient IA LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 1st quarter, HoldingsChannel reports. The fund acquired 5,000 shares of the pipeline company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at about $30,000. Finally, GeoWealth Management LLC boosted its stake in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.7%

Shares of NYSE ENB opened at $46.71 on Tuesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market cap of $101.85 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 4.30 and a beta of 0.79. Enbridge Inc has a 1 year low of $38.70 and a 1 year high of $48.21. The firm has a 50-day moving average of $45.57 and a 200 day moving average of $44.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, sell-side analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.9%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge’s dividend payout ratio is presently 134.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ENB. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.