Old North State Trust LLC Purchases New Position in Enbridge Inc $ENB

Old North State Trust LLC purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,361 shares of the pipeline company’s stock, valued at approximately $562,000.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC grew its stake in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the period. AXA S.A. grew its stake in Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after acquiring an additional 15,259 shares during the period. Diversify Advisory Services LLC increased its holdings in Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after acquiring an additional 34,912 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Wolfe Research set a $50.00 price objective on Enbridge in a research note on Tuesday, August 4th. Finally, Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Key Headlines Impacting Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to form a joint venture with KKR and Apollo to fund approximately C$2.7 billion (US$1.95 billion) of expansions to its Westcoast natural gas pipeline system in British Columbia. The Aspen Point and Sunrise projects are already sanctioned and supported by long-term contracts, while third-party capital reduces Enbridge’s upfront funding requirements and capital burden. Enbridge and KKR form Westcoast pipeline joint venture
• Positive Sentiment: Enbridge is acquiring Salt Creek Midstream’s crude gathering business in the Delaware Basin for US$600 million. The assets include about 500 miles of infrastructure, full ownership of the Orla and Wink North systems, and a 50% stake in Delaware Crossing. The deal expands Enbridge’s Permian footprint, strengthens its integrated crude export network, and is expected to add contracted earnings and cash flow after closing. Enbridge to buy Salt Creek Midstream crude assets
• Neutral Sentiment: Air monitoring following a gas leak during work on Enbridge’s Line 5 in Michigan’s Upper Peninsula found no hazardous gas levels. The incident appears contained, but investors may continue to monitor potential safety, regulatory, and operational consequences. Air monitoring after Enbridge Line 5 leak
• Negative Sentiment: The Salt Creek acquisition requires US$600 million in cash, adding near-term capital outlay to a company that already carries substantial debt. The expected benefits also depend on transaction closing, project execution, and continued activity in the Permian Basin.

Enbridge Stock Performance

NYSE:ENB opened at $49.97 on Friday. The company’s 50-day moving average is $53.73 and its two-hundred day moving average is $54.03. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The firm has a market capitalization of $109.13 billion, a price-to-earnings ratio of 26.72 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the company earned $0.65 EPS. Analysts forecast that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.97 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.8%. Enbridge’s payout ratio is currently 147.06%.

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.