Thrivent Financial for Lutherans Boosts Stake in Enbridge Inc. (NYSE:ENB)

Thrivent Financial for Lutherans lifted its position in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,734 shares of the pipeline company’s stock after acquiring an additional 885 shares during the period. Thrivent Financial for Lutherans’ holdings in Enbridge were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. WFA of San Diego LLC purchased a new position in shares of Enbridge in the fourth quarter worth about $30,000. Richard W. Paul & Associates LLC purchased a new stake in shares of Enbridge in the 4th quarter valued at $30,000. Archer Investment Corp acquired a new stake in shares of Enbridge in the fourth quarter worth $35,000. Hollencrest Capital Management purchased a new position in shares of Enbridge during the fourth quarter worth $35,000. Finally, Providence Capital Advisors LLC lifted its position in Enbridge by 60.4% during the fourth quarter. Providence Capital Advisors LLC now owns 916 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 49.25% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. StockNews.com initiated coverage on Enbridge in a research note on Thursday, May 18th. They set a “hold” rating for the company. National Bank Financial upped their price objective on Enbridge from C$54.00 to C$56.00 in a research report on Friday, January 27th. BMO Capital Markets lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 24th. Finally, Credit Suisse Group raised shares of Enbridge from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 29th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of $57.50.

Enbridge Trading Down 0.4 %

Shares of ENB stock opened at $36.71 on Wednesday. Enbridge Inc. has a 1-year low of $35.02 and a 1-year high of $47.67. The company has a market cap of $74.34 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.81 and a beta of 0.83. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.51. The stock has a 50 day simple moving average of $38.49 and a 200-day simple moving average of $39.38.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be given a dividend of $0.655 per share. The ex-dividend date is Friday, May 12th. This is a boost from Enbridge’s previous quarterly dividend of $0.65. This represents a $2.62 dividend on an annualized basis and a yield of 7.14%. Enbridge’s dividend payout ratio is currently 295.51%.

Enbridge Profile

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and 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 the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.