Hsbc Holdings PLC lifted its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 2,018.6% during the first quarter, Holdings Channel.com reports. The fund owned 103,559 shares of the pipeline company’s stock after purchasing an additional 98,671 shares during the period. Hsbc Holdings PLC’s holdings in Enbridge were worth $5,608,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. PFG Investments LLC increased its position in shares of Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after purchasing an additional 202 shares during the period. MIdWestOne Financial Group Inc. lifted its holdings in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares during the period. Sumitomo Life Insurance Co. boosted its stake in Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after buying an additional 205 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock valued at $235,000 after buying an additional 208 shares in the last quarter. Finally, Blue Fin Capital Inc. grew its holdings in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after acquiring an additional 213 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Price Performance
Shares of ENB opened at $56.38 on Friday. The business’s 50-day moving average is $55.70 and its 200-day moving average is $53.22. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The company has a market capitalization of $123.13 billion, a price-to-earnings ratio of 26.47 and a beta of 0.58. Enbridge Inc has a fifty-two week low of $44.58 and a fifty-two week high of $58.45.
Enbridge Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is 133.80%.
Wall Street Analyst Weigh In
Several brokerages have commented on ENB. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada boosted 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, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus 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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