MidFirst Bank acquired a new position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 117,292 shares of the pipeline company’s stock, valued at approximately $6,358,000.
A number of other institutional investors also recently added to or reduced their stakes in ENB. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. RNC Capital Management LLC increased its position in shares of Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after purchasing an additional 22,637 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter valued at $9,204,000. Western Wealth Management LLC boosted its position in shares of Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after purchasing an additional 28,091 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its position in shares of Enbridge by 22.8% in the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after purchasing an additional 183,163 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.
Enbridge Stock Performance
Shares of ENB stock opened at $50.63 on Tuesday. The firm has a market capitalization of $110.58 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The business has a fifty day moving average of $54.57 and a 200 day moving average of $53.97. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45.
Enbridge Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. Enbridge’s payout ratio is 147.06%.
Analyst Ratings Changes
Several brokerages recently issued reports on ENB. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Wolfe Research set a $50.00 price objective on shares of Enbridge in a report on Tuesday, August 4th. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus price target of $67.00.
Check Out Our Latest Research Report on Enbridge
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.
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