CreativeOne Wealth LLC Purchases Shares of 6,108 Enbridge Inc. (NYSE:ENB)

CreativeOne Wealth LLC purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,108 shares of the pipeline company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP boosted its holdings in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Wellington Management Group LLP boosted its stake in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Norges Bank purchased a new stake in shares of Enbridge during the fourth quarter worth about $714,662,000. Vanguard Group Inc. raised its stake in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Enbridge by 36.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock worth $348,110,000 after purchasing an additional 2,814,200 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.8 %

NYSE ENB opened at $36.24 on Friday. The stock has a 50 day moving average price of $35.83 and a 200-day moving average price of $35.39. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a market capitalization of $77.04 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.43 and a beta of 0.86.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.47%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 136.04%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.20.

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.