Zimmer Partners LP Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Zimmer Partners LP boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 121.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,000 shares of the pipeline company’s stock after buying an additional 95,800 shares during the period. Zimmer Partners LP’s holdings in Enbridge were worth $7,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Metis Global Partners LLC raised its holdings in Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares during the period. Aviso Financial Inc. raised its holdings in Enbridge by 4.3% in the 4th 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. raised its holdings in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. Sound Income Strategies LLC raised its holdings in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after buying an additional 49,800 shares during the period. Finally, Greenland Capital Management LP increased its stake in Enbridge by 189.1% during the fourth quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock worth $1,502,000 after purchasing an additional 23,160 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.2%

ENB stock opened at $44.94 on Tuesday. The company’s 50 day moving average price is $44.53 and its 200 day moving average price is $43.50. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The firm has a market capitalization of $97.97 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.04%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. Enbridge’s dividend payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent research reports. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $67.00.

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.