Aigen Investment Management LP Invests $1.20 Million in Enbridge Inc. (NYSE:ENB)

Aigen Investment Management LP bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 29,511 shares of the pipeline company’s stock, valued at approximately $1,199,000.

A number of other hedge funds have also recently added to or reduced their stakes in ENB. BNP Paribas Financial Markets increased its holdings in shares of Enbridge by 19.4% in the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 1,136 shares during the period. Sei Investments Co. raised its holdings in shares of Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Enbridge by 5.9% during the first quarter. Bleakley Financial Group LLC now owns 17,485 shares of the pipeline company’s stock worth $633,000 after buying an additional 973 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Enbridge during the first quarter worth about $250,000. Finally, Eagle Bay Advisors LLC increased its position in Enbridge by 23.4% in the 1st quarter. Eagle Bay Advisors LLC now owns 2,267 shares of the pipeline company’s stock valued at $82,000 after acquiring an additional 430 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent research reports. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $42.18 on Wednesday. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.00. The company has a 50-day moving average price of $40.98 and a 200 day moving average price of $38.28. The company has a market cap of $91.84 billion, a P/E ratio of 19.53, a PEG ratio of 4.16 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 earnings per share. Research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. Enbridge’s dividend payout ratio is 122.22%.

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.