Keybank National Association OH lifted its holdings in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 47.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,853 shares of the pipeline company’s stock after purchasing an additional 10,597 shares during the quarter. Keybank National Association OH’s holdings in Enbridge were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Exchange Traded Concepts LLC boosted its stake in shares of Enbridge by 3.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after buying an additional 41,601 shares during the last quarter. Viking Fund Management LLC lifted its holdings in Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after acquiring an additional 61,500 shares during the period. Third View Private Wealth LLC purchased a new position in Enbridge in the fourth quarter worth about $3,691,000. Swiss Life Asset Management Ltd grew its stake in shares of Enbridge by 19.2% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock valued at $13,966,000 after purchasing an additional 44,524 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 2,067,516 shares during the last quarter. 54.60% of the stock is owned by institutional investors.
Enbridge Price Performance
ENB stock traded up $1.15 during mid-day trading on Tuesday, hitting $54.62. The company had a trading volume of 310,228 shares, compared to its average volume of 4,836,180. The company has a market capitalization of $119.28 billion, a price-to-earnings ratio of 25.64 and a beta of 0.58. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $55.32 and a 200 day moving average price of $52.42.
Enbridge Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio is presently 133.80%.
Analyst Ratings Changes
A number of research firms recently issued reports on ENB. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada lifted 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. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.
Read Our Latest Stock Analysis on Enbridge
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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