Hartline Investment Corp Acquires 12,402 Shares of Enbridge Inc $ENB

Hartline Investment Corp raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 37.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,280 shares of the pipeline company’s stock after purchasing an additional 12,402 shares during the quarter. Hartline Investment Corp’s holdings in Enbridge were worth $2,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth about $261,000. AQR Capital Management LLC increased its position in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares in the last quarter. AXA S.A. raised its stake in shares of Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after acquiring an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC lifted its position in shares of Enbridge by 93.1% during the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Enbridge by 80.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after purchasing an additional 34,912 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 3.0%

Shares of Enbridge stock opened at $55.06 on Wednesday. The stock has a market cap of $120.26 billion, a PE ratio of 25.85 and a beta of 0.58. The business has a fifty day simple moving average of $55.37 and a 200 day simple moving average of $52.52. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $8.49 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Research analysts predict that Enbridge Inc will post 2.16 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s payout ratio is presently 133.80%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada increased their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

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.