Gulf International Bank UK Ltd Boosts Stake in Enbridge Inc. (NYSE:ENB)

Gulf International Bank UK Ltd lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.3% during the first quarter, Holdings Channel reports. The institutional investor owned 13,749 shares of the pipeline company’s stock after purchasing an additional 1,054 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Enbridge were worth $497,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC boosted its position in Enbridge by 45.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 9,338 shares of the pipeline company’s stock worth $313,000 after purchasing an additional 2,906 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in Enbridge by 1.3% during the third quarter. Epoch Investment Partners Inc. now owns 77,434 shares of the pipeline company’s stock worth $2,570,000 after purchasing an additional 1,000 shares in the last quarter. Mutual Advisors LLC boosted its position in Enbridge by 18.9% during the third quarter. Mutual Advisors LLC now owns 33,348 shares of the pipeline company’s stock worth $1,109,000 after purchasing an additional 5,306 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in Enbridge during the third quarter worth $4,252,000. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its position in Enbridge by 4.4% during the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 9,468 shares of the pipeline company’s stock worth $314,000 after purchasing an additional 400 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Performance

NYSE ENB opened at $34.70 on Monday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The stock has a market cap of $73.78 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90. The business has a fifty day moving average of $35.86 and a 200-day moving average of $35.62. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. As a group, analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid 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 yield of 7.80%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 136.04%.

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.