Sourcerock Group LLC Purchases 147,100 Shares of Enbridge Inc. (NYSE:ENB)

Sourcerock Group LLC boosted its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 66.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,500 shares of the pipeline company's stock after buying an additional 147,100 shares during the quarter. Enbridge makes up 1.1% of Sourcerock Group LLC's holdings, making the stock its 18th biggest holding. Sourcerock Group LLC's holdings in Enbridge were worth $15,635,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ENB. Norges Bank acquired a new stake in shares of Enbridge during the fourth quarter valued at about $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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Enbridge during the fourth quarter valued at about $180,941,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ENB shares. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday. Raymond James raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. National Bankshares reaffirmed a "sector 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, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Trading Down 0.8%

ENB stock traded down $0.38 during mid-day trading on Thursday, reaching $45.19. The company's stock had a trading volume of 4,923,540 shares, compared to its average volume of 4,065,215. The company has a market cap of $98.52 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The business's 50 day moving average price is $44.65 and its 200 day moving average price is $43.53. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its 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 during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's payout ratio is presently 139.69%.

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.