Infrastructure Capital Advisors LLC lifted its position in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 75.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,809 shares of the pipeline company’s stock after buying an additional 15,774 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Enbridge were worth $1,404,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in ENB. Coppell Advisory Solutions Corp. acquired a new position in shares of Enbridge during the 4th quarter worth $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the 4th quarter worth $25,000. MBM Wealth Consultants LLC acquired a new position in shares of Enbridge during the 4th quarter worth $39,000. Antonetti Capital Management LLC raised its stake in shares of Enbridge by 58.2% during the 1st quarter. Antonetti Capital Management LLC now owns 1,087 shares of the pipeline company’s stock worth $41,000 after buying an additional 400 shares during the last quarter. Finally, WealthPlan Investment Management LLC acquired a new position in shares of Enbridge during the 1st quarter worth $42,000. Institutional investors and hedge funds own 48.29% of the company’s stock.
Enbridge Stock Up 0.9 %
ENB opened at $33.54 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. The stock has a market capitalization of $67.83 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.61 and a beta of 0.85. The business has a 50-day moving average of $35.88 and a two-hundred day moving average of $37.24. Enbridge Inc. has a 12 month low of $32.90 and a 12 month high of $43.03.
Enbridge Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.99%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 187.86%.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. TD Securities cut their target price on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Royal Bank of Canada cut their target price on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, August 7th. Wells Fargo & Company downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. StockNews.com assumed coverage on shares of Enbridge in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, BMO Capital Markets started coverage on shares of Enbridge in a research note on Friday. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $57.67.
Read Our Latest Research Report on Enbridge
Enbridge Company Profile
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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