211,617 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Norden Group LLC

Norden Group LLC purchased a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 211,617 shares of the pipeline company’s stock, valued at approximately $7,656,000.

A number of other hedge funds also recently bought and sold shares of ENB. Qube Research & Technologies Ltd raised its position in Enbridge by 4.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock valued at $3,152,000 after purchasing an additional 4,120 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in Enbridge by 31.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 103,401 shares of the pipeline company’s stock valued at $3,432,000 after purchasing an additional 24,600 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Enbridge by 41.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 38,899 shares of the pipeline company’s stock valued at $1,300,000 after purchasing an additional 11,318 shares in the last quarter. Legal & General Group Plc raised its position in Enbridge by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 18,437,902 shares of the pipeline company’s stock valued at $614,236,000 after purchasing an additional 1,015,792 shares in the last quarter. Finally, Kenfarb & CO. raised its position in Enbridge by 108.1% in the 3rd quarter. Kenfarb & CO. now owns 7,075 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 3,675 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $35.89 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market capitalization of $76.59 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.36 and a beta of 0.92. The business’s 50-day moving average is $36.02 and its two-hundred day moving average is $35.64. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $38.37.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.55%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is presently 136.04%.

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.