29,511 Shares in Enbridge Inc. (NYSE:ENB) Bought by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 29,511 shares of the pipeline company’s stock, valued at approximately $1,199,000.

A number of other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter valued at $29,000. Grove Bank & Trust increased its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENB. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Price Performance

Shares of NYSE:ENB opened at $42.18 on Wednesday. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00. The business has a 50-day moving average of $40.98 and a two-hundred day moving average of $38.28. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $91.84 billion, a P/E ratio of 19.53, a P/E/G ratio of 4.16 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, equities research analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Enbridge Company 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.