TD Private Client Wealth LLC lowered its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,307 shares of the pipeline company’s stock after selling 14,068 shares during the period. TD Private Client Wealth LLC’s holdings in Enbridge were worth $5,574,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ENB. Bank of Nova Scotia increased its stake in shares of Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares during the period. Vanguard Group Inc. increased 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 buying an additional 2,067,516 shares during the period. Raymond James Financial Inc. increased its stake in shares of Enbridge by 43.7% during the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after buying an additional 2,016,674 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in shares of Enbridge during the third quarter valued at $88,407,000. Finally, Kayne Anderson Capital Advisors LP increased its stake in shares of Enbridge by 48.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock valued at $232,477,000 after buying an additional 1,508,300 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Enbridge Price Performance
Shares of ENB stock opened at $56.37 on Tuesday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $56.41. The stock’s 50-day moving average is $53.93 and its 200 day moving average is $50.49. The company has a market cap of $123.09 billion, a P/E ratio of 26.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.
Enbridge Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.
View Our Latest Stock 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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