732,836 Shares in Enbridge Inc. (NYSE:ENB) Bought by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 732,836 shares of the pipeline company’s stock, valued at approximately $26,082,000. Enbridge accounts for approximately 1.7% of Ghisallo Capital Management LLC’s portfolio, making the stock its 14th biggest position.

A number of other large investors have also made changes to their positions in ENB. Vanguard Group Inc. raised its stake in shares of Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares during the period. TD Asset Management Inc boosted its holdings in Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after buying an additional 337,729 shares during the period. 1832 Asset Management L.P. increased its stake in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. raised its holdings in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.50.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $41.14 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $41.22. The firm has a fifty day simple moving average of $39.43 and a two-hundred day simple moving average of $37.06. The stock has a market capitalization of $87.79 billion, a P/E ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the company earned $0.51 EPS. On average, analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.01%.

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.