Gateway Investment Advisers LLC is making a new investment in Enbridge Inc. (NYSE: ENB)


Gateway Investment Advisers LLC has acquired a new position in shares of Enbridge Inc. (NYSE: ENB – Get Rating) (TSE: ENB) in the 1st quarter, reports Holdings Channel. The company acquired 57,456 shares of the pipeline company’s shares worth approximately $ 2,648,000.

A number of other hedge funds have also bought and sold shares in ENB. Sterneck Capital Management LLC increased its position in shares of Enbridge by 2.6% in the fourth quarter. Sterneck Capital Management LLC now owns 9,721 shares of the pipeline company worth $ 380,000 after purchasing an additional 250 shares during the period. Buckingham Capital Management Inc. rose its stake in Enbridge by 4.1% in the fourth quarter. Buckingham Capital Management Inc. now owns 6,699 shares of the pipeline company worth $ 262,000 after purchasing an additional 263 shares during the period. Parsec Financial Management Inc. increased its position in shares of Enbridge by 2.6% in the fourth quarter. Parsec Financial Management Inc. already owns 10,657 shares of the pipeline company worth $ 416,000 after purchasing an additional 265 shares during the period. Glassman Wealth Services raised its position in Enbridge by 32.9% in the fourth quarter. Glassman Wealth Services already owns 1,124 shares of the pipeline company worth $ 44,000 after buying an additional 278 shares during the period. Finally, Lakeview Capital Partners LLC increased its position in Enbridge by 2.0% in the fourth quarter. Lakeview Capital Partners LLC now owns 14,994 shares of the pipeline company worth $ 586,000 after purchasing an additional 290 shares during the period. Institutional investors own 53.23% of the company’s shares.

Several research analysts recently weighed the company. Royal Bank of Canada raised its price target for Enbridge from C $ 60.00 to C $ 65.00 in a research report on Monday, May 9. National Bank Financial raised its target price for Enbridge from C $ 57.00 to C $ 60.00 in a research report Monday, May 9th. StockNews.com took over the coverage of Enbridge in a research report on Thursday, March 31st. They set a share retention rating. US Capital Advisors reissued the overweight rating of Enbridge shares in a research report on Wednesday, June 1. Finally, TD Securities raised its target price for Enbridge from C $ 61.00 to C $ 62.00 in a research report on Monday, May 9th. Seven stock research analysts rated the shares with a retention rating, and eight issued a share purchase rating. According to MarketBeat, the company has an average “Moderate Buying” rating and an average target price of $ 57.42.

ENB opened at $ 41.78 on Friday. The company has a market capitalization of $ 84.66 billion, a PE ratio of 18.24, a price-earnings-growth ratio of 2.86 and a beta ratio of 0.77. Shares have a 50-day moving average of $ 44.42 and a 200-day moving average of $ 43.05. Enbridge Inc. has a 52-week low of $ 36.21 and a 52-week high of $ 47.67. The company has a debt-to-equity ratio of 1.23, a fast ratio of 0.60 and a current ratio of 0.68.

Enbridge (NYSE: ENB – Get Rating) (TSE: ENB) last published its quarterly earnings results on Friday, May 6. The pipeline company reported $ 0.66 earnings per share (EPS) for the quarter, lacking a consensus estimate of $ 0.67 s ($ 0.01). The company had revenue of $ 11.92 billion for the quarter, compared to the consensus estimate of $ 8.76 billion. Enbridge had a return on equity of 10.40% and a net profit of 12.20%. In the same quarter last year, the company reported $ 0.62 EPS. On average, research analysts predict that Enbridge Inc. will report 2.38 earnings per share for the current year.

The business also recently announced a three-month dividend, which was paid on Wednesday (June 1st). The record shareholders on Friday, May 13, received a dividend of $ 0.669 per share. The date of the former dividend of this dividend was Thursday, May 12. This represents a $ 2.68 annual dividend and a dividend yield of 6.40%. Enbridge’s dividend payout ratio (DPR) is currently 116.16%.

About Anbridge (Get a rating)

Enbridge Inc operates as an energy infrastructure company. The company operates in five segments: liquid pipelines, gas and medium flow transmission, gas distribution and storage, production of energy from renewable sources and energy services. The Liquids Pipelines segment operates pipelines and connected terminals for the transportation of various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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Quarterly Institutional Property for Enbridge (NYSE: ENB)



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