Certuity LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Certuity LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,581 shares of the pipeline company’s stock, valued at approximately $201,000.

A number of other hedge funds have also bought and sold shares of ENB. Wellington Management Group LLP lifted its holdings in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Vanguard Group Inc. lifted its holdings in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Enbridge by 36.9% during the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after acquiring an additional 2,814,200 shares during the period. Mackenzie Financial Corp lifted its holdings in Enbridge by 13.9% during the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after acquiring an additional 2,756,079 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Enbridge by 11.3% during the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after acquiring an additional 2,101,021 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Price Performance

Shares of NYSE ENB opened at $36.44 on Friday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The stock has a fifty day moving average of $35.29 and a 200-day moving average of $34.89. The stock has a market cap of $77.47 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Equities research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.43%. Enbridge’s dividend payout ratio is presently 127.14%.

Enbridge Company 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.