One Capital Management LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) in the fourth quarter, Holdings Channel reports. The firm purchased 197,788 shares of the pipeline company’s stock, valued at approximately $9,463,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Enbridge by 2.1% during the 4th 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 last quarter. TD Asset Management Inc raised its holdings in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after buying an additional 137,897 shares during the last quarter. Norges Bank bought a new stake in Enbridge during the 4th quarter valued at $1,195,559,000. Geode Capital Management LLC raised its holdings in Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after buying an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after buying an additional 858,323 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.
Enbridge Stock Up 0.4%
Shares of NYSE ENB opened at $54.94 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. The firm has a market capitalization of $119.97 billion, a PE ratio of 25.79 and a beta of 0.58. The firm has a fifty day simple moving average of $54.47 and a two-hundred day simple moving average of $51.16.
Enbridge Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.
Analysts Set New Price Targets
ENB has been the subject of a number of recent analyst reports. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a 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. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $66.50.
Get 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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