Clearwave Capital LLC Buys New Position in Enbridge Inc $ENB

Clearwave Capital LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 21,709 shares of the pipeline company’s stock, valued at approximately $1,038,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Trajan Wealth LLC grew its holdings in shares of Enbridge by 15.3% during the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after purchasing an additional 106,784 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Enbridge by 3.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after purchasing an additional 41,601 shares during the last quarter. Viking Fund Management LLC lifted its holdings in shares of Enbridge by 35.2% in the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares during the last quarter. Third View Private Wealth LLC acquired a new stake in shares of Enbridge in the 4th quarter valued at about $3,691,000. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Enbridge by 19.2% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock valued at $13,966,000 after purchasing an additional 44,524 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.0%

ENB opened at $54.53 on Friday. The firm has a 50 day moving average price of $54.92 and a 200 day moving average price of $51.89. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The company has a market cap of $119.08 billion, a PE ratio of 25.60 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the company posted $1.03 EPS. Sell-side analysts expect that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.50.

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.