Cloverfields Capital Group LP Has $3.66 Million Stake in Enbridge Inc $ENB

Cloverfields Capital Group LP increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 76,410 shares of the pipeline company’s stock after acquiring an additional 14,208 shares during the period. Cloverfields Capital Group LP’s holdings in Enbridge were worth $3,655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Cullen Capital Management LLC increased its holdings in shares of Enbridge by 3.3% during the 4th quarter. Cullen Capital Management LLC now owns 1,063,905 shares of the pipeline company’s stock valued at $50,887,000 after acquiring an additional 33,797 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of Enbridge during the 4th quarter valued at about $7,099,000. Korea Investment CORP increased its holdings in shares of Enbridge by 3.3% during the 4th quarter. Korea Investment CORP now owns 1,337,634 shares of the pipeline company’s stock valued at $64,093,000 after acquiring an additional 43,032 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Enbridge by 1.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after acquiring an additional 205 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in shares of Enbridge by 34.1% during the 4th quarter. Wealthspire Advisors LLC now owns 10,082 shares of the pipeline company’s stock valued at $482,000 after acquiring an additional 2,566 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ENB shares. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Stock Performance

ENB opened at $56.49 on Friday. The firm has a market capitalization of $123.35 billion, a P/E ratio of 26.52 and a beta of 0.58. The stock’s 50 day moving average price is $54.83 and its two-hundred day moving average price is $51.64. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the firm posted $1.03 EPS. On average, equities analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Enbridge 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.