Enbridge Inc (NYSE:ENB) is TrueMark Investments LLC's 6th Largest Position

TrueMark Investments LLC grew its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 10.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,556 shares of the pipeline company's stock after purchasing an additional 19,935 shares during the quarter. Enbridge makes up approximately 2.4% of TrueMark Investments LLC's investment portfolio, making the stock its 6th largest position. TrueMark Investments LLC's holdings in Enbridge were worth $9,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ENB. Norges Bank purchased a new stake in shares of Enbridge during the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. boosted its stake in shares of Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG boosted its stake in shares of Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Enbridge during the fourth quarter valued at $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENB shares. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Enbridge has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Stock Performance

ENB stock opened at $44.71 on Monday. The firm has a market cap of $97.47 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 4.22 and a beta of 0.81. The firm has a 50-day simple moving average of $45.80 and a two-hundred day simple moving average of $44.06. Enbridge Inc has a one year low of $34.68 and a one year high of $47.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 6.08%. This is a positive change 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%.

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.

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