Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 783.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,727 shares of the pipeline company’s stock after purchasing an additional 3,305 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Enbridge were worth $142,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. raised its stake in shares of Enbridge by 1.2% during the first quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 79,962 shares of the pipeline company’s stock valued at $3,051,000 after purchasing an additional 910 shares in the last quarter. WealthPLAN Partners LLC bought a new stake in shares of Enbridge during the first quarter valued at about $100,000. Keybank National Association OH raised its position in Enbridge by 3.8% in the first quarter. Keybank National Association OH now owns 20,832 shares of the pipeline company’s stock worth $795,000 after acquiring an additional 765 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 16.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,082,814 shares of the pipeline company’s stock worth $536,920,000 after acquiring an additional 2,030,318 shares in the last quarter. Finally, Great Lakes Retirement Inc. bought a new stake in Enbridge in the first quarter worth about $282,000. 45.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ENB has been the topic of several research reports. StockNews.com initiated coverage on shares of Enbridge in a research report on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada dropped their price target on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. Finally, TD Securities cut their price objective on Enbridge from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus price target of $57.67.
Enbridge Trading Up 0.0 %
NYSE:ENB opened at $34.87 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. Enbridge Inc. has a fifty-two week low of $34.52 and a fifty-two week high of $44.55. The stock’s 50-day moving average is $36.62 and its two-hundred day moving average is $37.77. The stock has a market cap of $70.53 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Monday, August 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is 191.43%.
About Enbridge
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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