Pacifica Partners Inc. boosted its stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,968 shares of the pipeline company’s stock after acquiring an additional 17,281 shares during the period. Enbridge accounts for about 1.3% of Pacifica Partners Inc.’s holdings, making the stock its 26th biggest position. Pacifica Partners Inc.’s holdings in Enbridge were worth $4,196,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its stake in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Quintet Private Bank Europe S.A. increased its holdings in shares of Enbridge by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 300 shares during the period. City Holding Co. raised its stake in shares of Enbridge by 121.5% during the second quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 356 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of Enbridge by 99.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 345 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $39,000. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Trading Up 1.4%
NYSE:ENB opened at $46.55 on Friday. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a fifty day moving average price of $49.49 and a two-hundred day moving average price of $53.03. The stock has a market capitalization of $103.74 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 5.44 and a beta of 0.60.
Enbridge Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of C$0.97 per share. This represents a $3.88 annualized dividend and a yield of 8.3%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.
Analyst Upgrades and Downgrades
ENB has been the topic of several recent research reports. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Raymond James Financial restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, September 15th. Royal Bank Of Canada lifted their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Enbridge in a report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.
Get Our Latest Analysis on Enbridge
Enbridge Profile
Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.
Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.
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