Harvest Portfolios Group Inc. boosted its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 28.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 633,547 shares of the pipeline company’s stock after buying an additional 141,326 shares during the period. Harvest Portfolios Group Inc.’s holdings in Enbridge were worth $30,317,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tsfg LLC grew its position in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management bought a new position in Enbridge in the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge in the 3rd quarter valued at $28,000. Garner Asset Management Corp bought a new position in Enbridge in the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC bought a new position in Enbridge in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Enbridge Price Performance
Shares of ENB stock opened at $56.81 on Wednesday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $57.01. The stock’s 50-day moving average is $53.98 and its 200 day moving average is $50.56. The company has a market cap of $124.06 billion, a P/E ratio of 26.67 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 business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on ENB shares. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.
View Our Latest Stock Report on Enbridge
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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