Opal Capital LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 208,917 shares of the pipeline company’s stock, valued at approximately $9,993,000. Enbridge makes up 2.5% of Opal Capital LLC’s investment portfolio, making the stock its 8th biggest holding.
Other large investors also recently made changes to their positions in the company. Triumph Capital Management acquired a new position in shares of Enbridge in the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $28,000. Imprint Wealth LLC bought a new stake in Enbridge during the third quarter worth approximately $31,000. Garner Asset Management Corp acquired a new position in shares of Enbridge during the fourth quarter worth approximately $30,000. Finally, Gilpin Wealth Management LLC acquired a new position in shares of Enbridge during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 54.60% of the company’s stock.
Enbridge Price Performance
Shares of ENB opened at $55.68 on Wednesday. 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 1 year low of $43.59 and a 1 year high of $58.45. The stock has a market cap of $121.59 billion, a P/E ratio of 26.14 and a beta of 0.58. The stock’s 50-day moving average price is $54.90 and its two-hundred day moving average price is $51.79.
Enbridge Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s dividend payout ratio (DPR) is 133.80%.
Wall Street Analyst Weigh In
ENB has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $66.50.
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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