LPL Financial LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,650,150 shares of the pipeline company’s stock after selling 50,470 shares during the period. LPL Financial LLC owned 0.17% of Enbridge worth $174,587,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the business. Blue Fin Capital Inc. lifted its holdings in shares of Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Enbridge by 3.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 213 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in Enbridge by 2.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 8,936 shares of the pipeline company’s stock valued at $427,000 after buying an additional 218 shares during the period. Finally, PFG Advisors lifted its holdings in Enbridge by 4.2% in the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock valued at $276,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.
Enbridge Trading Up 0.3%
ENB opened at $55.52 on Wednesday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a market cap of $121.23 billion, a P/E ratio of 26.07 and a beta of 0.58. The company has a fifty day moving average price of $54.68 and a two-hundred day moving average price of $51.49.
Enbridge Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is 133.80%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on ENB. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.50.
View 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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