Metis Global Partners LLC Increases Position in Enbridge Inc $ENB

Metis Global Partners LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,846 shares of the pipeline company’s stock after purchasing an additional 34,424 shares during the quarter. Metis Global Partners LLC’s holdings in Enbridge were worth $10,332,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Enbridge in the 4th quarter worth approximately $261,000. Moloney Securities Asset Management LLC boosted its stake in Enbridge by 8.9% in the first quarter. Moloney Securities Asset Management LLC now owns 10,859 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 887 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Enbridge by 1.5% in the first quarter. Leavell Investment Management Inc. now owns 24,830 shares of the pipeline company’s stock valued at $1,100,000 after acquiring an additional 358 shares in the last quarter. Alps Advisors Inc. grew its holdings in Enbridge by 40.1% in the first quarter. Alps Advisors Inc. now owns 17,994 shares of the pipeline company’s stock worth $797,000 after purchasing an additional 5,147 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge during the first quarter worth $28,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.7%

Shares of ENB stock opened at $47.69 on Friday. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The firm has a market capitalization of $104.00 billion, a PE ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock’s 50-day simple moving average is $48.28 and its 200-day simple moving average is $46.75.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 7.9%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENB. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.