Aristotle Atlantic Partners LLC Acquires New Shares in Enbridge Inc $ENB

Aristotle Atlantic Partners LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 14,992 shares of the pipeline company’s stock, valued at approximately $812,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Triumph Capital Management bought a new stake in shares of Enbridge during the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge in the 3rd quarter valued at $28,000. Inspire Investing LLC bought a new position in shares of Enbridge in the 4th quarter valued at $29,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge during the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge during the 3rd quarter valued at $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.8%

Shares of NYSE ENB opened at $56.84 on Friday. The company has a market capitalization of $124.13 billion, a P/E ratio of 26.68 and a beta of 0.58. Enbridge Inc has a 52-week low of $44.58 and a 52-week 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’s 50 day moving average price is $55.73 and its 200-day moving average price is $53.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the business earned $1.03 EPS. Equities analysts forecast that Enbridge Inc will post 2.13 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is presently 133.80%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.