Wayfinding Financial LLC Buys Shares of 2,385 Enbridge Inc (NYSE:ENB)

Wayfinding Financial LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,385 shares of the pipeline company’s stock, valued at approximately $105,000.

A number of other hedge funds have also added to or reduced their stakes in ENB. Norges Bank purchased a new position in Enbridge during the fourth quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership grew its position in shares of Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares in the last quarter. Blackstone Inc. grew its position in shares of Enbridge by 650.7% during 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 in the last quarter. Deutsche Bank AG grew its position in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Enbridge during the fourth quarter worth about $180,941,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.1%

Shares of ENB opened at $44.76 on Friday. Enbridge Inc has a 1 year low of $35.10 and a 1 year high of $47.44. The firm has a market cap of $97.58 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.22 and a beta of 0.79. The stock has a 50 day simple moving average of $45.73 and a two-hundred day simple moving average of $44.25. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. During the same quarter in the prior year, the company earned $0.92 EPS. On average, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 6.07%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge’s dividend payout ratio is presently 140.21%.

About Enbridge

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.