Boothbay Fund Management LLC Buys 29,712 Shares of Enbridge Inc. (NYSE:ENB)

Boothbay Fund Management LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 50.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,020 shares of the pipeline company's stock after purchasing an additional 29,712 shares during the period. Boothbay Fund Management LLC's holdings in Enbridge were worth $3,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. apricus wealth LLC grew its holdings in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after buying an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after buying an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the last quarter. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock valued at $106,000 after buying an additional 240 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a "buy" rating on the stock. CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.44 on Monday, hitting $46.63. 2,552,881 shares of the company's stock were exchanged, compared to its average volume of 4,252,636. The company has a 50-day simple moving average of $43.42 and a 200-day simple moving average of $43.02. The stock has a market capitalization of $101.66 billion, a PE ratio of 27.11, a PEG ratio of 3.92 and a beta of 0.80. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $46.69. 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 (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company posted $0.64 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.82%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 157.56%.

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.