Enbridge Inc. (NYSE:ENB) Shares Acquired by NewGen Asset Management Ltd

NewGen Asset Management Ltd lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 80.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,700 shares of the pipeline company’s stock after buying an additional 136,700 shares during the period. Enbridge comprises approximately 5.7% of NewGen Asset Management Ltd’s holdings, making the stock its 9th largest holding. NewGen Asset Management Ltd’s holdings in Enbridge were worth $11,047,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Harbor Investment Advisory LLC raised its holdings in shares of Enbridge by 5.2% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares in the last quarter. Capital Investment Counsel Inc increased its holdings in Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its holdings in Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.2 %

Shares of NYSE:ENB traded down $0.08 during midday trading on Friday, hitting $36.34. The company had a trading volume of 4,208,004 shares, compared to its average volume of 7,166,785. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a market cap of $77.26 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 3.43 and a beta of 0.83. The firm has a fifty day simple moving average of $35.32 and a 200 day simple moving average of $34.91.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. On average, analysts predict that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ENB shares. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus started coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

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.