Gateway Investment Advisers LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)



Gateway Investment Advisers LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) during the 1st quarter, Holdings Channel reports. The firm acquired 57,456 shares of the pipeline company’s stock, valued at approximately $2,648,000.

A number of other hedge funds have also bought and sold shares of ENB. Sterneck Capital Management LLC raised its position in shares of Enbridge by 2.6% during the fourth quarter. Sterneck Capital Management LLC now owns 9,721 shares of the pipeline company’s stock worth $380,000 after purchasing an additional 250 shares during the period. Buckingham Capital Management Inc. its raised position in shares of Enbridge by 4.1% during the fourth quarter. Buckingham Capital Management Inc. Now owns 6,699 shares of the pipeline company’s stock worth $262,000 after purchasing an additional 263 shares during the period. Parsec Financial Management Inc. its raised position in shares of Enbridge by 2.6% during the fourth quarter. Parsec Financial Management Inc. Now owns 10,657 shares of the pipeline company’s stock worth $416,000 after purchasing an additional 265 shares during the period. Glassman Wealth Services raised its position in Enbridge by 32.9% during the fourth quarter. Glassman Wealth Services now owns 1,124 shares of the pipeline company’s stock valued at $44,000 after buying an additional 278 shares during the period. Finally, Lakeview Capital Partners LLC raised its position in Enbridge by 2.0% during the fourth quarter. Lakeview Capital Partners LLC now owns 14,994 shares of the pipeline company’s stock valued at $586,000 after buying an additional 290 shares during the period. Institutional investors own 53.23% of the company’s stock.

Several research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Enbridge from C$60.00 to C$65.00 in a research report on Monday, May 9th. National Bank Financial upped their price target on Enbridge from C$57.00 to C$60.00 in a research report on Monday, May 9th. StockNews.com assumed coverage on Enbridge in a research report on Thursday, March 31st. They set a “hold” rating on the stock. US Capital Advisors reissued an “overweight” rating on shares of Enbridge in a research report on Wednesday, June 1st. Finally, TD Securities upped their price target on Enbridge from C$61.00 to C$62.00 in a research report on Monday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.42.

ENB opened at $41.78 on Friday. The company has a market cap of $84.66 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.86 and a beta of 0.77. The stock has a 50-day moving average of $44.42 and a 200-day moving average of $43.05. Enbridge Inc. has a 52-week low of $36.21 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68.

Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last released its quarterly earnings results on Friday, May 6th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $8.76 billion. Enbridge had a return on equity of 10.40% and a net margin of 12.20%. During the same quarter last year, the company posted $0.62 EPS. On average, research analysts predict that Enbridge Inc. will post 2.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 6.40%. Enbridge’s dividend payout ratio (DPR) is presently 116.16%.

About Enbridge (Get Rating)

Enbridge Inc 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)



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