Sciencast Management LP Makes New Investment in Enbridge Inc $ENB

Sciencast Management LP acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 37,237 shares of the pipeline company’s stock, valued at approximately $1,650,000.

Several other hedge funds have also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. Algert Global LLC raised its position in Enbridge by 26.7% in the 4th quarter. Algert Global LLC now owns 6,663 shares of the pipeline company’s stock worth $283,000 after purchasing an additional 1,405 shares during the last quarter. CoreCap Advisors LLC raised its position in Enbridge by 24.7% in the 4th quarter. CoreCap Advisors LLC now owns 7,479 shares of the pipeline company’s stock worth $317,000 after purchasing an additional 1,483 shares during the last quarter. Fiduciary Trust Co raised its position in Enbridge by 7.3% in the 4th quarter. Fiduciary Trust Co now owns 6,873 shares of the pipeline company’s stock worth $292,000 after purchasing an additional 468 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Enbridge by 774.0% in the 4th quarter. Focus Partners Wealth now owns 467,349 shares of the pipeline company’s stock worth $19,843,000 after purchasing an additional 413,875 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Zacks Research upgraded shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Price Performance

Enbridge stock opened at $48.35 on Tuesday. The firm has a market capitalization of $105.42 billion, a P/E ratio of 23.82, a PEG ratio of 4.41 and a beta of 0.80. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $48.68. The business has a 50-day moving average of $46.34 and a 200-day moving average of $45.21. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

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.