Bessemer Group Inc. Buys 44,368 Shares of Enbridge Inc. (NYSE:ENB)

Bessemer Group Inc. increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 94.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,167 shares of the pipeline company’s stock after acquiring an additional 44,368 shares during the quarter. Bessemer Group Inc.’s holdings in Enbridge were worth $3,295,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge during the 4th quarter worth $25,000. Baystate Wealth Management LLC grew its position in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enbridge in the fourth quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. bought a new stake in Enbridge during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.2 %

Enbridge stock traded down $0.06 during trading hours on Thursday, reaching $36.51. The stock had a trading volume of 700,861 shares, compared to its average volume of 5,465,951. The stock has a market cap of $79.50 billion, a PE ratio of 18.57, a PEG ratio of 3.40 and a beta of 0.92. The company has a fifty day simple moving average of $35.84 and a 200-day simple moving average of $35.63. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.