Capital Advisors Inc. OK raised its position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,487,241 shares of the pipeline company’s stock after acquiring an additional 210,225 shares during the quarter. Enbridge accounts for about 1.2% of Capital Advisors Inc. OK’s investment portfolio, making the stock its 23rd largest holding. Capital Advisors Inc. OK’s holdings in Enbridge were worth $80,623,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ENB. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter valued at $1,195,559,000. Auto Owners Insurance Co lifted its holdings in Enbridge by 4,683.0% in the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after buying an additional 8,387,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Enbridge by 787.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,196,000 shares of the pipeline company’s stock worth $173,189,000 after buying an additional 2,836,000 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Enbridge in the 4th quarter valued at about $132,705,000. Finally, Vanguard Group Inc. grew its stake in shares of Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Enbridge Price Performance
Shares of ENB opened at $51.30 on Friday. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The firm has a market cap of $112.03 billion, a price-to-earnings ratio of 27.43 and a beta of 0.58. The stock has a 50 day moving average of $54.77 and a 200-day moving average of $53.93.
Enbridge Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is currently 152.41%.
Analyst Upgrades and Downgrades
ENB has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada increased their target price on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price target on shares of Enbridge in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.00.
Get Our Latest Stock Analysis on ENB
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.
See Also
- Five stocks we like better than Enbridge
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
- Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal
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.
