YANKCOM Partnership purchased a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,520 shares of the pipeline company's stock, valued at approximately $616,000.
Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank raised its position in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock valued at $52,880,000 after acquiring an additional 319,907 shares during the period. Sound Income Strategies LLC lifted its position in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after acquiring an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after acquiring an additional 15,207 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Enbridge has a consensus rating of "Hold" and a consensus price target of $63.00.
Check Out Our Latest Stock Analysis on Enbridge
Enbridge Price Performance
Enbridge stock opened at $43.96 on Thursday. The firm has a market cap of $95.76 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock's fifty day moving average price is $43.13 and its two-hundred day moving average price is $41.32. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.
Enbridge Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.10%. Enbridge's payout ratio is 121.76%.
About Enbridge
(
Free Report)
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.
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