Havemeyer Place LP Makes New $738,000 Investment in Enbridge Inc $ENB

Havemeyer Place LP bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,429 shares of the pipeline company’s stock, valued at approximately $738,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Norges Bank acquired a new position in shares of Enbridge in the fourth quarter worth about $1,195,559,000. Bank of Nova Scotia boosted its holdings in shares of Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after buying an additional 2,016,674 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Enbridge in the third quarter worth about $88,407,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ENB shares. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Trading Down 1.6%

Shares of ENB stock opened at $55.39 on Tuesday. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The firm’s fifty day simple moving average is $54.66 and its 200 day simple moving average is $51.44. The firm has a market capitalization of $120.94 billion, a P/E ratio of 26.00 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.2 EPS for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s payout ratio is 133.80%.

Enbridge Company 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.