Northbridge Financial Group LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,395 shares of the pipeline company’s stock, valued at approximately $497,000.
Several other institutional investors also recently bought and sold shares of ENB. Tsfg LLC grew its stake in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the period. Triumph Capital Management purchased a new stake in shares of Enbridge in the third quarter worth about $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge in the third quarter worth about $28,000. Garner Asset Management Corp purchased a new stake in shares of Enbridge in the fourth quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge in the third quarter worth about $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Price Performance
Shares of ENB stock opened at $56.81 on Wednesday. The company has a market capitalization of $124.06 billion, a PE ratio of 26.67 and a beta of 0.59. The firm has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $50.56. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $57.01.
Enbridge Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.
Analyst Upgrades and Downgrades
ENB has been the subject of several analyst reports. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.50.
Enbridge Profile
Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.
The company serves customers primarily in Canada and the United States and has interests in other international energy projects.
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