Raymond James Trust N.A. decreased its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,429 shares of the pipeline company’s stock after selling 5,829 shares during the quarter. Raymond James Trust N.A.’s holdings in Enbridge were worth $2,765,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Highland Capital Management LLC grew its stake in shares of Enbridge by 146.1% in the second quarter. Highland Capital Management LLC now owns 12,632 shares of the pipeline company’s stock worth $534,000 after purchasing an additional 7,500 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Enbridge by 1,683.5% in the second quarter. Pittenger & Anderson Inc. now owns 103,565 shares of the pipeline company’s stock valued at $4,377,000 after buying an additional 97,758 shares during the period. Franklin Street Advisors Inc. NC lifted its holdings in Enbridge by 5.8% in the second quarter. Franklin Street Advisors Inc. NC now owns 13,111 shares of the pipeline company’s stock valued at $554,000 after buying an additional 717 shares during the period. Grand Central Investment Group acquired a new position in Enbridge in the second quarter valued at $827,000. Finally, Flagship Harbor Advisors LLC lifted its holdings in Enbridge by 53.9% in the second quarter. Flagship Harbor Advisors LLC now owns 7,679 shares of the pipeline company’s stock valued at $325,000 after buying an additional 2,689 shares during the period. Institutional investors own 49.26% of the company’s stock.
Enbridge Trading Down 0.2 %
ENB opened at $40.07 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $47.67. The firm has a market capitalization of $81.13 billion, a PE ratio of 21.09, a P/E/G ratio of 2.91 and a beta of 0.79. The company’s 50-day moving average is $42.76 and its 200 day moving average is $43.84.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.668 dividend. The ex-dividend date was Friday, August 12th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.67%. Enbridge’s dividend payout ratio is presently 140.00%.
Analyst Ratings Changes
ENB has been the topic of several recent analyst reports. National Bank Financial boosted their target price on shares of Enbridge from C$60.00 to C$61.00 in a report on Tuesday, August 2nd. US Capital Advisors lowered shares of Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Raymond James upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, September 12th. Finally, Industrial Alliance Securities upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $59.75.
Enbridge Company Profile
Enbridge Inc 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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