Enbridge Inc (NYSE:ENB) Shares Bought by CAP Partners LLC

CAP Partners LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,679 shares of the pipeline company’s stock after acquiring an additional 311 shares during the period. CAP Partners LLC’s holdings in Enbridge were worth $473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blackstone Inc. raised its stake in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG raised its position in shares of Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Enbridge by 30.5% during the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock valued at $571,389,000 after buying an additional 3,091,442 shares during the period. FIL Ltd boosted its position in Enbridge by 17.0% during the fourth quarter. FIL Ltd now owns 10,084,416 shares of the pipeline company’s stock worth $428,015,000 after acquiring an additional 1,466,183 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company’s stock worth $289,044,000 after acquiring an additional 1,135,000 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the subject of several research analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Down 0.2%

NYSE:ENB opened at $44.99 on Thursday. Enbridge Inc has a 12-month low of $36.50 and a 12-month high of $47.44. The firm has a market capitalization of $98.10 billion, a P/E ratio of 23.19, a P/E/G ratio of 4.20 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The business has a 50 day simple moving average of $45.39 and a 200 day simple moving average of $44.52.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter last year, the business earned $0.92 earnings per share. Equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 6.08%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is presently 140.21%.

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.