Kalos Management Inc. increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,169 shares of the pipeline company’s stock after buying an additional 1,816 shares during the period. Kalos Management Inc.’s holdings in Enbridge were worth $1,929,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ENB. Quantitative Systematic Strategies LLC bought a new stake in shares of Enbridge in the first quarter worth $336,000. Swiss National Bank increased its stake in shares of Enbridge by 1.2% in the first quarter. Swiss National Bank now owns 8,211,831 shares of the pipeline company’s stock worth $299,016,000 after buying an additional 98,100 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Enbridge by 5.3% in the first quarter. D.A. Davidson & CO. now owns 181,864 shares of the pipeline company’s stock worth $6,620,000 after purchasing an additional 9,136 shares during the period. Meridian Wealth Management LLC acquired a new position in Enbridge in the first quarter worth $487,000. Finally, Alps Advisors Inc. acquired a new position in Enbridge in the first quarter worth $216,000. Institutional investors and hedge funds own 48.05% of the company’s stock.
ENB stock traded up $0.34 during trading on Tuesday, hitting $39.21. The company had a trading volume of 107,242 shares, compared to its average volume of 4,260,077. The firm has a market capitalization of $79.43 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 2.98 and a beta of 0.86. The business has a 50 day moving average of $39.28 and a 200 day moving average of $38.66. Enbridge Inc. has a fifty-two week low of $26.97 and a fifty-two week high of $41.13. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.10.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were issued a $0.6645 dividend. This represents a $2.66 annualized dividend and a yield of 6.78%. The ex-dividend date was Thursday, August 12th. Enbridge’s payout ratio is currently 147.51%.
A number of research firms have commented on ENB. Credit Suisse Group raised shares of Enbridge from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $55.00 in a report on Thursday, June 17th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a report on Monday, June 14th. TD Securities lifted their price objective on shares of Enbridge from C$54.00 to C$55.00 and gave the stock a “buy” rating in a report on Wednesday, September 8th. CIBC lifted their price objective on shares of Enbridge from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a report on Wednesday, September 8th. Finally, BMO Capital Markets boosted their price target on shares of Enbridge from C$55.00 to C$57.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $52.08.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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