Bayesian Capital Management LP Makes New Investment in Enbridge Inc. (NYSE:ENB)

Bayesian Capital Management LP purchased a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 54,700 shares of the pipeline company's stock, valued at approximately $2,321,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Enbridge during the fourth quarter worth $909,415,000. Arrowstreet Capital Limited Partnership increased its stake in Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after purchasing an additional 9,621,425 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Enbridge during the 4th quarter worth about $180,941,000. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after buying an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Enbridge by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock worth $571,389,000 after buying an additional 3,091,442 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ENB shares. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Raymond James raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating for the company. CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Performance

NYSE ENB traded up $0.56 during trading on Wednesday, hitting $46.72. The company's stock had a trading volume of 2,548,357 shares, compared to its average volume of 4,159,419. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08. The firm has a market cap of $101.85 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The firm has a 50 day moving average price of $44.00 and a 200 day moving average price of $43.21. 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 (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.679 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is 157.56%.

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.