Barometer Capital Management Inc. increased its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 1,064.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,800 shares of the pipeline company’s stock after acquiring an additional 89,400 shares during the period. Enbridge makes up about 2.2% of Barometer Capital Management Inc.’s holdings, making the stock its 15th biggest position. Barometer Capital Management Inc.’s holdings in Enbridge were worth $5,295,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Oslo Pensjonsforsikring AS bought a new position in shares of Enbridge in the first quarter worth $384,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at about $64,000. Dimensional Fund Advisors LP grew its holdings in shares of Enbridge by 6.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,271,508 shares of the pipeline company’s stock worth $177,122,000 after purchasing an additional 200,567 shares in the last quarter. Balefire LLC increased its position in shares of Enbridge by 3.5% in the first quarter. Balefire LLC now owns 11,397 shares of the pipeline company’s stock worth $617,000 after purchasing an additional 385 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Enbridge by 11.7% in the first quarter. Parallel Advisors LLC now owns 21,415 shares of the pipeline company’s stock worth $1,159,000 after purchasing an additional 2,242 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Trading Down 0.5%
NYSE ENB opened at $55.44 on Wednesday. Enbridge Inc has a 1-year low of $44.58 and a 1-year high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average of $55.68 and a 200-day moving average of $53.10. The firm has a market cap of $121.09 billion, a PE ratio of 26.03 and a beta of 0.58.
Enbridge Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.
Wall Street Analyst Weigh In
ENB has been the subject of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, TD Securities reissued a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $66.50.
View Our Latest Research Report 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.
Read More
- Five stocks we like better than Enbridge
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.
