Enbridge Inc. (NYSE:ENB) Shares Purchased by Zimmer Partners LP

Zimmer Partners LP boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 121.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,000 shares of the pipeline company’s stock after purchasing an additional 95,800 shares during the quarter. Zimmer Partners LP’s holdings in Enbridge were worth $7,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $29,000. Wintrust Investments LLC boosted its holdings in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC boosted its holdings in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares during the period. Hopwood Financial Services Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $42,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $47,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $44.94 on Tuesday. The business has a 50 day simple moving average of $44.53 and a 200-day simple moving average of $43.50. The stock has a market capitalization of $97.97 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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 return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business posted $0.92 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.04%. Enbridge’s dividend payout ratio is presently 139.69%.

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.