Sourcerock Group LLC Acquires 147,100 Shares of Enbridge Inc. (NYSE:ENB)

Sourcerock Group LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 66.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 368,500 shares of the pipeline company’s stock after acquiring an additional 147,100 shares during the period. Enbridge comprises 1.1% of Sourcerock Group LLC’s portfolio, making the stock its 18th biggest position. Sourcerock Group LLC’s holdings in Enbridge were worth $15,635,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. apricus wealth LLC increased its stake in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC lifted its stake in shares of Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares during the last quarter. Wintrust Investments LLC boosted its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 242 shares during the last quarter. Finally, KPP Advisory Services LLC increased its stake in shares of Enbridge by 4.2% in the fourth quarter. KPP Advisory Services LLC now owns 5,970 shares of the pipeline company’s stock valued at $253,000 after buying an additional 242 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.1%

Shares of NYSE ENB opened at $44.90 on Monday. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm’s 50-day moving average price is $44.49 and its 200-day moving average price is $43.47. The stock has a market capitalization of $97.87 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the company posted $0.92 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 139.69%.

Analyst Ratings Changes

ENB has been the topic of several research reports. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.