Stratos Wealth Partners LTD. increased its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,302 shares of the pipeline company’s stock after purchasing an additional 489 shares during the period. Stratos Wealth Partners LTD.’s holdings in Enbridge were worth $1,200,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Csenge Advisory Group lifted its position in Enbridge by 8.2% during the 1st quarter. Csenge Advisory Group now owns 8,561 shares of the pipeline company’s stock worth $326,000 after acquiring an additional 652 shares during the period. Brookfield Corp ON lifted its position in Enbridge by 13.4% during the 1st quarter. Brookfield Corp ON now owns 1,835,962 shares of the pipeline company’s stock worth $70,042,000 after acquiring an additional 216,728 shares during the period. Avidian Wealth Solutions LLC lifted its holdings in shares of Enbridge by 48.2% in the 1st quarter. Avidian Wealth Solutions LLC now owns 11,056 shares of the pipeline company’s stock valued at $422,000 after buying an additional 3,598 shares during the period. Kovack Advisors Inc. lifted its holdings in shares of Enbridge by 7.0% in the 1st quarter. Kovack Advisors Inc. now owns 24,974 shares of the pipeline company’s stock valued at $953,000 after buying an additional 1,634 shares during the period. Finally, CWM LLC lifted its holdings in shares of Enbridge by 32.8% in the 1st quarter. CWM LLC now owns 41,067 shares of the pipeline company’s stock valued at $1,567,000 after buying an additional 10,138 shares during the period. 48.29% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Performance
NYSE ENB opened at $33.19 on Friday. Enbridge Inc. has a 1-year low of $32.90 and a 1-year high of $42.12. The company has a market capitalization of $70.55 billion, a P/E ratio of 23.71, a PEG ratio of 2.65 and a beta of 0.85. The business has a 50 day moving average price of $35.13 and a 200 day moving average price of $36.83. 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 Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.67 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Monday, August 14th. This represents a $2.68 annualized dividend and a yield of 8.07%. Enbridge’s dividend payout ratio (DPR) is presently 187.86%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. TD Securities reduced their price target on Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Credit Suisse Group reduced their price target on Enbridge from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, September 13th. Wells Fargo & Company cut Enbridge from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 6th. CIBC raised their price target on Enbridge from $63.00 to $64.00 and gave the company an “outperformer” rating in a report on Monday, September 11th. Finally, StockNews.com initiated coverage on Enbridge in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.43.
Check Out Our Latest Stock Analysis 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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