Enbridge Inc. (NYSE:ENB) Position Raised by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 52.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,989 shares of the pipeline company’s stock after buying an additional 1,380 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Enbridge were worth $144,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its holdings in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. lifted its holdings in Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the period. Capital Investment Counsel Inc lifted its holdings in Enbridge by 5.2% in the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares during the period. Finally, Marino Stram & Associates LLC lifted its holdings in Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 344 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Price Performance

NYSE ENB opened at $35.60 on Thursday. The stock’s 50-day moving average price is $35.26 and its two-hundred day moving average price is $34.88. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market cap of $75.67 billion, a PE ratio of 16.95, a PEG ratio of 3.36 and a beta of 0.83. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, analysts predict that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.61%. Enbridge’s payout ratio is presently 129.05%.

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.