Caprock Group LLC Acquires New Holdings in Enbridge Inc $ENB

Caprock Group LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 46,295 shares of the pipeline company’s stock, valued at approximately $2,270,000.

A number of other hedge funds also recently bought and sold shares of ENB. Tsfg LLC raised its position in shares of Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Highline Wealth Partners LLC grew its stake in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Enbridge in the second quarter worth about $29,000. Finally, True Wealth Design LLC lifted its position in shares of Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Royal Bank Of Canada boosted their target price on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Enbridge Stock Performance

Shares of ENB opened at $51.85 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. The stock has a 50-day moving average of $47.84 and a two-hundred day moving average of $47.89. The stock has a market cap of $113.12 billion, a P/E ratio of 28.49 and a beta of 0.69. Enbridge Inc has a one year low of $39.73 and a one year high of $52.17.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 7.5%. Enbridge’s dividend payout ratio is currently 147.80%.

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.