Enbridge Inc $ENB is Columbus Macro LLC’s 2nd Largest Position

Columbus Macro LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,457 shares of the pipeline company’s stock after buying an additional 12,004 shares during the period. Enbridge accounts for approximately 2.0% of Columbus Macro LLC’s portfolio, making the stock its 2nd largest holding. Columbus Macro LLC’s holdings in Enbridge were worth $18,573,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

NYSE ENB opened at $56.14 on Friday. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The company has a fifty day moving average of $55.05 and a 200-day moving average of $52.12. The company has a market capitalization of $122.62 billion, a P/E ratio of 26.36 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 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 business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. Enbridge’s dividend payout ratio is 133.80%.

Enbridge Company 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.