Bluefin Capital Management LLC Makes New $391,000 Investment in Enbridge Inc. (NYSE:ENB)

Bluefin Capital Management LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 11,000 shares of the pipeline company’s stock, valued at approximately $391,000.

Other institutional investors have also added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of Enbridge during the first quarter valued at approximately $152,843,000. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the period. National Bank of Canada FI grew its holdings in Enbridge by 11.3% in the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after purchasing an additional 2,203,123 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in shares of Enbridge by 129.6% during the fourth quarter. Morningstar Investment Services LLC now owns 3,631,712 shares of the pipeline company’s stock valued at $131,032,000 after purchasing an additional 2,049,712 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $51.50.

Enbridge Trading Up 1.3 %

NYSE:ENB opened at $41.14 on Wednesday. The stock has a market cap of $87.79 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average price is $39.43 and its 200-day moving average price is $37.06. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $41.22.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.50%. Enbridge’s dividend payout ratio is presently 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.