Tredje AP fonden cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.7% during the fourth quarter, HoldingsChannel reports. The firm owned 123,288 shares of the pipeline company’s stock after selling 14,699 shares during the quarter. Tredje AP fonden’s holdings in Enbridge were worth $4,903,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP raised its position in shares of Enbridge by 319.7% during the 3rd quarter. Zimmer Partners LP now owns 8,327,790 shares of the pipeline company’s stock valued at $292,269,000 after buying an additional 6,343,790 shares during the period. M&G Investment Management Ltd. acquired a new position in Enbridge during the 4th quarter valued at about $62,967,000. FIL Ltd boosted its stake in Enbridge by 6.5% during the 4th quarter. FIL Ltd now owns 18,704,568 shares of the pipeline company’s stock valued at $743,688,000 after purchasing an additional 1,143,856 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new position in Enbridge during the 3rd quarter valued at about $23,909,000. Finally, Jennison Associates LLC raised its position in shares of Enbridge by 33.9% during the 4th quarter. Jennison Associates LLC now owns 2,322,318 shares of the pipeline company’s stock worth $92,345,000 after buying an additional 588,423 shares in the last quarter. Hedge funds and other institutional investors own 46.52% of the company’s stock.
ENB has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Enbridge from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. UBS Group upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $54.00 in a research report on Monday, November 25th. US Capital Advisors downgraded shares of Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, January 7th. Argus initiated coverage on shares of Enbridge in a research report on Wednesday, December 4th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research report on Monday, January 6th. They set an “equal weight” rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Enbridge currently has an average rating of “Hold” and a consensus target price of $50.41.
Shares of Enbridge stock traded down $0.93 during trading on Tuesday, hitting $39.91. The stock had a trading volume of 524,178 shares, compared to its average volume of 3,613,611. The stock has a 50 day simple moving average of $41.14 and a 200 day simple moving average of $37.50. The company has a market capitalization of $82.69 billion, a PE ratio of 20.09, a P/E/G ratio of 2.33 and a beta of 0.61. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.94. Enbridge Inc has a 1 year low of $32.23 and a 1 year high of $43.15.
The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.6119 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.45 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Thursday, February 13th. Enbridge’s dividend payout ratio (DPR) is 122.50%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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