Keudell Morrison Wealth Management bought a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,529 shares of the pipeline company’s stock, valued at approximately $1,030,000.
Several other large investors have also added to or reduced their stakes in the stock. Blue Fin Capital Inc. boosted its stake in Enbridge by 1.3% in the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares during the period. IHT Wealth Management LLC boosted its stake in Enbridge by 1.2% in the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Enbridge by 2.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 8,936 shares of the pipeline company’s stock worth $427,000 after purchasing an additional 218 shares during the period. PFG Advisors boosted its stake in Enbridge by 4.2% in the 3rd quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock worth $276,000 after purchasing an additional 223 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in Enbridge by 3.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,851 shares of the pipeline company’s stock worth $328,000 after purchasing an additional 227 shares during the period. Institutional investors own 54.60% of the company’s stock.
Enbridge Stock Performance
Shares of NYSE ENB opened at $57.78 on Friday. The stock has a market cap of $126.18 billion, a price-to-earnings ratio of 27.13 and a beta of 0.59. 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 1-year low of $43.59 and a 1-year high of $58.20. The stock’s 50-day moving average is $54.13 and its 200 day moving average is $50.71.
Enbridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.
Analysts Set New Price Targets
Several analysts have weighed in on ENB shares. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.
Check Out Our Latest Analysis on ENB
About Enbridge
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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