Enbridge Inc. (NYSE:ENB) Stock Holdings Lifted by Gold Investment Management Ltd.

Gold Investment Management Ltd. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,222 shares of the pipeline company’s stock after acquiring an additional 1,041 shares during the period. Gold Investment Management Ltd.’s holdings in Enbridge were worth $2,647,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Harbor Investment Advisory LLC increased its holdings in shares of Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Enbridge by 3.7% during the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares during the last quarter. Fifth Third Bancorp grew its stake in Enbridge by 0.4% in the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock valued at $3,139,000 after buying an additional 324 shares during the last quarter. Capital Investment Counsel Inc boosted its holdings in Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Enbridge by 2.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock worth $452,000 after acquiring an additional 337 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

NYSE:ENB traded up $0.38 on Wednesday, hitting $35.77. The company had a trading volume of 2,298,929 shares, compared to its average volume of 5,569,443. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The firm has a 50 day moving average of $36.00 and a two-hundred day moving average of $35.63. The stock has a market capitalization of $76.32 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.32 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The business had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. On average, research analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.57%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

About Enbridge

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.