Clare Market Investments LLC Buys Shares of 28,499 Enbridge Inc $ENB

Clare Market Investments LLC purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,499 shares of the pipeline company’s stock, valued at approximately $1,543,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Triumph Capital Management bought a new stake in Enbridge in the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge during the third quarter valued at about $28,000. Inspire Investing LLC bought a new position in Enbridge during the fourth quarter valued at about $29,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge in the fourth quarter worth about $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge in the third quarter worth about $31,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.9%

ENB stock opened at $54.47 on Tuesday. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a market cap of $118.96 billion, a PE ratio of 25.54 and a beta of 0.58. The business’s 50-day simple moving average is $55.32 and its 200 day simple moving average is $52.42.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the business earned $1.03 earnings per share. On average, research analysts anticipate that Enbridge Inc will post 2.16 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. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENB shares. 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 report on Monday, May 11th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus 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.