Enbridge Inc. (NYSE:ENB) Shares Purchased by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 38,292 shares of the pipeline company’s stock after purchasing an additional 589 shares during the period. Boomfish Wealth Group LLC’s holdings in Enbridge were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Enbridge during the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership boosted its position in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after acquiring an additional 9,621,425 shares during the period. Blackstone Inc. lifted its holdings in shares of Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares during the period. Deutsche Bank AG lifted its holdings in shares of Enbridge by 13.9% during 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 purchasing an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Enbridge during the fourth quarter valued at $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $45.95 on Tuesday. The business’s 50 day moving average price is $45.55 and its two-hundred day moving average price is $44.01. The company has a market cap of $100.20 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 139.69%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENB shares. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of $67.00.

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.