27,280 Shares in Enbridge Inc (NYSE:ENB) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP invested approximately $1.21 million into Enbridge Inc, acquiring 27,280 shares during the first quarter.
• Enbridge reported $0.47 earnings per share for the last quarter, exceeding analysts' expectations of $0.41, and announced a quarterly dividend increase to $0.6839.
• Analysts generally maintain a positive outlook on Enbridge, with an average rating of "Moderate Buy" and a target price of $67.00.

Aigen Investment Management LP purchased a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,280 shares of the pipeline company's stock, valued at approximately $1,209,000.

A number of other large investors have also made changes to their positions in the stock. Garde Capital Inc. purchased a new position in Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the first quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge during the 1st quarter valued at about $30,000. GeoWealth Management LLC raised its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the period. Finally, Wolff Wiese Magana LLC lifted its position in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.8%

Shares of ENB traded up $0.38 during mid-day trading on Wednesday, reaching $47.70. The company's stock had a trading volume of 10,222,225 shares, compared to its average volume of 3,856,969. The company's fifty day moving average price is $45.49 and its two-hundred day moving average price is $44.67. Enbridge Inc has a 52 week low of $38.44 and a 52 week high of $47.88. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market cap of $104.01 billion, a PE ratio of 23.50, a P/E/G ratio of 4.35 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the business posted $0.58 EPS. On average, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is presently 133.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ENB shares. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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.