MidFirst Bank purchased a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 117,389 shares of the pipeline company’s stock, valued at approximately $5,615,000.
A number of other hedge funds have also recently added to or reduced their stakes in ENB. MIdWestOne Financial Group Inc. increased its holdings in shares of Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after purchasing an additional 205 shares during the period. Arete Wealth Advisors LLC increased its stake in Enbridge by 4.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 208 shares in the last quarter. Blue Fin Capital Inc. increased its stake in Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after purchasing an additional 213 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its holdings in Enbridge by 3.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock worth $309,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.
Enbridge Trading Up 0.1%
Shares of Enbridge stock opened at $54.53 on Friday. The stock has a fifty day simple moving average of $54.91 and a 200 day simple moving average of $51.87. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The company has a market capitalization of $119.08 billion, a P/E ratio of 25.60 and a beta of 0.58. 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 Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. Enbridge’s dividend payout ratio is currently 133.80%.
Analyst Upgrades and Downgrades
ENB has been the topic of a number of recent research reports. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada upped their target price 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, Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.
View Our Latest Stock Report on Enbridge
Enbridge Company 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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