JBR Co Financial Management Inc Invests $330,000 in Enbridge Inc (NYSE:ENB)

JBR Co Financial Management Inc purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 1st quarter, Holdings Channel.com reports. The fund purchased 7,454 shares of the pipeline company’s stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Metis Global Partners LLC lifted its position in Enbridge by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after purchasing an additional 7,986 shares during the period. Aviso Financial Inc. lifted its holdings in Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after buying an additional 58,176 shares during the period. Vanguard Group Inc. boosted its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. Greenland Capital Management LP grew its holdings in Enbridge by 189.1% during the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock worth $1,502,000 after acquiring an additional 23,160 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Enbridge by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company’s stock valued at $289,044,000 after acquiring an additional 1,135,000 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $45.96 on Wednesday. The stock’s fifty day simple moving average is $45.64 and its 200 day simple moving average is $44.03. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $100.21 billion, a PE ratio of 23.69, a PEG ratio of 4.33 and a beta of 0.81. Enbridge Inc has a 12 month low of $34.60 and a 12 month high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter last year, the firm posted $0.92 earnings per share. On average, research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a yield of 5.91%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s dividend payout ratio is presently 140.21%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ENB. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Finally, CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Company 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.