Bluefin Capital Management LLC Buys Shares of 6,600 Enbridge Inc $ENB

Key Points

• Bluefin Capital Management LLC has acquired a new position in Enbridge Inc, purchasing 6,600 shares worth approximately $292,000 during the first quarter.
• Enbridge recently reported a quarterly EPS of $0.47, exceeding consensus estimates, and increased its dividend to $0.6839 per share, indicating a 5.7% dividend yield.
• Wall Street analysts have varied ratings on Enbridge, with some upgrading the stock to "buy" while others have given it a "sell" rating, reflecting mixed sentiment among investors.

Bluefin Capital Management LLC acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,600 shares of the pipeline company's stock, valued at approximately $292,000.

A number of other hedge funds also recently bought and sold shares of ENB. Goldman Sachs Group Inc. boosted its position in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC purchased a new stake in shares of Enbridge during the 1st quarter worth $208,490,000. Canada Pension Plan Investment Board raised its stake in Enbridge by 39.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock worth $421,675,000 after acquiring an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd acquired a new stake in Enbridge during the 1st quarter worth $77,976,000. Finally, JPMorgan Chase & Co. raised its stake in Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock worth $781,792,000 after acquiring an additional 1,680,116 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 topic of a number of recent analyst reports. Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Price Performance

Shares of ENB traded up $0.30 during mid-day trading on Friday, hitting $49.11. The company's stock had a trading volume of 2,011,439 shares, compared to its average volume of 3,120,296. The firm has a 50-day moving average price of $46.65 and a 200 day moving average price of $45.36. The stock has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 4.46 and a beta of 0.80. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.11.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's payout ratio is presently 134.98%.

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.