Syon Capital LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Syon Capital LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,777 shares of the pipeline company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. TD Asset Management Inc increased its holdings in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Enbridge by 2.5% in the fourth quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock valued at $1,271,115,000 after buying an additional 846,796 shares in the last quarter. Canoe Financial LP increased its holdings in shares of Enbridge by 80,631.1% in the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after buying an additional 33,419,164 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Enbridge Trading Down 0.1 %

NYSE ENB opened at $34.80 on Wednesday. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $73.99 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.29 and a beta of 0.90. The firm’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $35.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. As a group, sell-side 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. Investors of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.78%. Enbridge’s dividend payout ratio is currently 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.