Cloverfields Capital Group LP Has $3.66 Million Holdings in Enbridge Inc $ENB

Cloverfields Capital Group LP lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,410 shares of the pipeline company’s stock after purchasing an additional 14,208 shares during the quarter. Cloverfields Capital Group LP’s holdings in Enbridge were worth $3,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $28,000. Imprint Wealth LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $31,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $30,000. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $56.49 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The company has a market capitalization of $123.35 billion, a PE ratio of 26.52 and a beta of 0.58. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The business has a 50 day simple moving average of $54.83 and a 200 day simple moving average of $51.64.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the company earned $1.03 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s payout ratio is presently 133.80%.

Analyst Ratings Changes

Several research firms recently commented on ENB. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.