Clear Trail Advisors LLC Increases Holdings in Enbridge Inc $ENB

Clear Trail Advisors LLC lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,078 shares of the pipeline company’s stock after acquiring an additional 17,504 shares during the period. Clear Trail Advisors LLC’s holdings in Enbridge were worth $2,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new stake in Enbridge during the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge in the 3rd quarter worth approximately $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge in the 4th quarter worth approximately $29,000. Imprint Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $31,000. Finally, Garner Asset Management Corp bought a new position in shares of Enbridge during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the topic of several recent research reports. Royal Bank Of Canada increased 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. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $54.82 on Tuesday. The stock’s fifty day moving average is $54.92 and its two-hundred day moving average is $51.96. The company has a market capitalization of $119.70 billion, a PE ratio of 25.74 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping 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 analyst estimates of $8.49 billion. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued 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 is presently 133.80%.

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.