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

Aristotle Atlantic Partners LLC purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,992 shares of the pipeline company’s stock, valued at approximately $812,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted 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 buying an additional 41,601 shares during the last quarter. Third View Private Wealth LLC acquired a new position in Enbridge during the fourth quarter worth $3,691,000. Vanguard Group Inc. increased its holdings in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. RNC Capital Management LLC raised its position in Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after acquiring an additional 22,637 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Enbridge by 22.8% in the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after acquiring an additional 183,163 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $56.84 on Friday. The company has a market capitalization of $124.13 billion, a price-to-earnings ratio of 26.68 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $44.58 and a 12 month high of $58.45. The stock’s 50 day moving average is $55.73 and its 200-day moving average is $53.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results 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 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 quarter in the previous year, the business posted $1.03 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.13 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.8%. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENB shares. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, TD Securities restated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.