Aigen Investment Management LP Invests $1.21 Million in Enbridge Inc (NYSE:ENB)

Aigen Investment Management LP bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 27,280 shares of the pipeline company’s stock, valued at approximately $1,209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in shares of Enbridge during the fourth quarter worth about $261,000. Jaffetilchin Investment Partners LLC grew its stake in Enbridge by 7.7% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 7,449 shares of the pipeline company’s stock worth $316,000 after buying an additional 533 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Enbridge by 11.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 296,126 shares of the pipeline company’s stock worth $12,564,000 after buying an additional 30,452 shares during the period. Qtron Investments LLC lifted its stake in Enbridge by 8.4% in the fourth quarter. Qtron Investments LLC now owns 19,700 shares of the pipeline company’s stock valued at $836,000 after buying an additional 1,534 shares during the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $709,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $47.03 on Monday. The company has a market cap of $102.55 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Enbridge Inc has a one year low of $38.44 and a one year high of $47.44. The business has a fifty day moving average of $45.48 and a two-hundred day moving average of $44.63. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm posted $0.58 EPS. As a group, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 133.99%.

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.