Cvfg LLC Makes New $650,000 Investment in Enbridge Inc $ENB

Cvfg LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,005 shares of the pipeline company’s stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. PFG Investments LLC increased its holdings in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 202 shares during the last quarter. MIdWestOne Financial Group Inc. raised its stake in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after buying an additional 203 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of Enbridge by 1.1% in the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after buying an additional 205 shares during the period. Arete Wealth Advisors LLC lifted its position in shares of Enbridge by 4.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock valued at $235,000 after buying an additional 208 shares in the last quarter. Finally, Blue Fin Capital Inc. lifted its position in shares of Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Trading Up 0.1%

Shares of ENB opened at $55.10 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a 50 day simple moving average of $55.42 and a two-hundred day simple moving average of $52.58. The firm has a market cap of $120.35 billion, a P/E ratio of 25.87 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the company posted $1.03 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.