Enbridge Inc (NYSE:ENB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4,331.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,593 shares of the pipeline company's stock after acquiring an additional 30,880 shares during the period. GAMMA Investing LLC's holdings in Enbridge were worth $1,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Norges Bank purchased a new stake in Enbridge in the fourth quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Enbridge by 396.7% in 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 buying an additional 9,621,425 shares during the last quarter. Blackstone Inc. raised its holdings in shares of Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after buying an additional 4,956,379 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Enbridge by 13.9% in 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 buying an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Enbridge in the fourth quarter valued at about $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE ENB traded down $0.98 during trading hours on Wednesday, hitting $44.99. 4,810,318 shares of the stock were exchanged, compared to its average volume of 3,991,846. The company has a market cap of $98.10 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 4.33 and a beta of 0.81. Enbridge Inc has a 12-month low of $34.60 and a 12-month high of $47.44. The stock has a 50-day moving average of $45.70 and a 200 day moving average of $44.03. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.

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 (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to analysts' expectations 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 company posted $0.92 earnings per share. As a group, 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 announced 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 is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio is presently 140.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. CIBC reissued an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.