Bessemer Group Inc. Raises Stock Holdings in Enbridge Inc (NYSE:ENB)

Bessemer Group Inc. boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 87.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 170,097 shares of the pipeline company's stock after purchasing an additional 79,181 shares during the period. Bessemer Group Inc.'s holdings in Enbridge were worth $7,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in Enbridge in the first quarter valued at about $26,000. Wintrust Investments LLC boosted its holdings 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 purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Enbridge in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 1.4%

Shares of Enbridge stock opened at $45.09 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The business's 50 day simple moving average is $45.83 and its 200-day simple moving average is $44.10. The stock has a market capitalization of $98.30 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 4.19 and a beta of 0.81. Enbridge Inc has a twelve month low of $35.10 and a twelve month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) 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 business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period in the prior year, the firm earned $0.92 EPS. Equities research analysts forecast 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 given a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.02%. This is a boost 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%.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research analyst reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

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.

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