Bluefin Capital Management LLC Takes $291,000 Position in Enbridge Inc. (NYSE:ENB)

Bluefin Capital Management LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 1st quarter, Holdings Channel reports. The fund purchased 8,000 shares of the pipeline company’s stock, valued at approximately $291,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC increased its position in shares of Enbridge by 68.6% during the 1st quarter. Lindbrook Capital LLC now owns 713 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 290 shares during the last quarter. Piscataqua Savings Bank purchased a new stake in shares of Enbridge during the 1st quarter valued at about $32,000. Selective Wealth Management Inc. increased its position in shares of Enbridge by 133.2% during the 1st quarter. Selective Wealth Management Inc. now owns 884 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 505 shares during the last quarter. Harbour Investments Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at about $36,000. Finally, TRU Independence Asset Management 2 LLC purchased a new stake in shares of Enbridge during the 4th quarter valued at about $35,000. 48.28% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on ENB. Scotiabank increased their target price on shares of Enbridge from C$54.00 to C$55.00 and gave the stock an “outperform” rating in a report on Thursday, July 8th. CIBC increased their target price on shares of Enbridge from C$52.00 to C$57.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. Barclays lowered shares of Enbridge from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Enbridge from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. Finally, Credit Suisse Group raised shares of Enbridge from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $55.00 in a report on Thursday, June 17th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Enbridge currently has a consensus rating of “Buy” and an average target price of $51.14.

Shares of NYSE:ENB traded down $0.17 on Thursday, hitting $38.43. 34,419 shares of the company’s stock were exchanged, compared to its average volume of 2,840,962. Enbridge Inc. has a 12 month low of $26.97 and a 12 month high of $41.13. The company has a market capitalization of $77.85 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.92 and a beta of 0.88. The stock’s 50 day simple moving average is $39.44. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.59 and a quick ratio of 0.52.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 7th. The pipeline company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. Enbridge had a return on equity of 8.68% and a net margin of 16.77%. The business had revenue of $9.35 billion during the quarter. On average, research analysts anticipate that Enbridge Inc. will post 2.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a dividend of $0.6778 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.05%. This is an increase from Enbridge’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, May 13th. Enbridge’s dividend payout ratio (DPR) is 103.87%.

Enbridge Profile

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest and other feeder pipelines.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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