Capital Innovations LLC Has $1.04 Million Position in Enbridge Inc (ENB)

Capital Innovations LLC increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 61.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,219 shares of the pipeline company’s stock after acquiring an additional 10,000 shares during the period. Enbridge comprises approximately 4.0% of Capital Innovations LLC’s holdings, making the stock its largest position. Capital Innovations LLC’s holdings in Enbridge were worth $1,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC purchased a new position in Enbridge in the 2nd quarter worth approximately $2,812,000. Sentry Investments Corp. raised its holdings in Enbridge by 422.2% in the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock worth $156,409,000 after acquiring an additional 2,447,900 shares during the last quarter. Federated Investors Inc. PA purchased a new position in Enbridge in the 2nd quarter worth approximately $7,992,000. Synovus Financial Corp raised its holdings in Enbridge by 3.1% in the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock worth $8,718,000 after acquiring an additional 6,649 shares during the last quarter. Finally, Kidder Stephen W purchased a new position in Enbridge in the 1st quarter worth approximately $1,310,000. Institutional investors own 61.58% of the company’s stock.

Enbridge Inc (ENB) traded up 1.058% during midday trading on Tuesday, reaching $41.555. 475,449 shares of the company’s stock were exchanged. The stock has a market capitalization of $68.39 billion, a price-to-earnings ratio of 32.618 and a beta of 0.65. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09. The stock’s 50-day moving average is $40.87 and its 200-day moving average is $40.55.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same period in the prior year, the business posted $0.50 EPS. On average, equities analysts forecast that Enbridge Inc will post $1.63 earnings per share for the current year.

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A number of equities analysts recently weighed in on ENB shares. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 price objective (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Enbridge currently has a consensus rating of “Hold” and a consensus target price of $56.00.

About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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