TrueMark Investments LLC lowered its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 33.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,405 shares of the pipeline company’s stock after selling 69,259 shares during the period. Enbridge comprises about 1.4% of TrueMark Investments LLC’s holdings, making the stock its 28th largest position. TrueMark Investments LLC’s holdings in Enbridge were worth $7,439,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ENB. Triumph Capital Management purchased a new position in Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge in the third quarter valued at approximately $28,000. Inspire Investing LLC purchased a new stake in Enbridge in the fourth quarter valued at approximately $29,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Enbridge in the third quarter valued at approximately $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Trading Down 0.7%
NYSE:ENB opened at $55.33 on Thursday. Enbridge Inc has a 12-month low of $43.59 and a 12-month 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 stock’s 50 day simple moving average is $54.99 and its 200-day simple moving average is $52.07. The firm has a market cap of $120.81 billion, a P/E ratio of 25.97 and a beta of 0.58.
Enbridge Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.
Analyst Ratings Changes
ENB has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada increased their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.
Get Our Latest Stock Report on ENB
Enbridge Company 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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