InTrack Investment Management Inc Takes $591,000 Position in Enbridge Inc. (NYSE:ENB)

InTrack Investment Management Inc bought a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,338 shares of the pipeline company's stock, valued at approximately $591,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wintrust Investments LLC boosted its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Enbridge by 2.0% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company's stock worth $541,000 after acquiring an additional 251 shares in the last quarter. Knuff & Co LLC grew its position in Enbridge by 12.6% during the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after acquiring an additional 252 shares during the last quarter. Hardin Capital Partners LLC increased its holdings in Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock valued at $423,000 after purchasing an additional 252 shares in the last quarter. Finally, Focus Financial Network Inc. increased its holdings in Enbridge by 1.6% during the 4th quarter. Focus Financial Network Inc. now owns 16,988 shares of the pipeline company's stock valued at $721,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price target 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. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Trading Up 1.3%

Shares of ENB traded up $0.58 on Thursday, reaching $46.45. 1,320,663 shares of the company's stock were exchanged, compared to its average volume of 4,010,827. The business has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $43.93. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.44. The stock has a market capitalization of $101.26 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The company 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 prior year, the business posted $0.92 EPS. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.85%. Enbridge's dividend payout ratio is 139.69%.

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.