Farmers & Merchants Investments Inc. boosted its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 323,868 shares of the pipeline company’s stock after acquiring an additional 4,076 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Enbridge were worth $12,356,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Csenge Advisory Group raised its stake in shares of Enbridge by 8.2% in the first quarter. Csenge Advisory Group now owns 8,561 shares of the pipeline company’s stock worth $326,000 after purchasing an additional 652 shares during the last quarter. Avidian Wealth Solutions LLC increased its position in shares of Enbridge by 48.2% during the first quarter. Avidian Wealth Solutions LLC now owns 11,056 shares of the pipeline company’s stock valued at $422,000 after acquiring an additional 3,598 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Enbridge by 7.0% during the first quarter. Kovack Advisors Inc. now owns 24,974 shares of the pipeline company’s stock valued at $953,000 after acquiring an additional 1,634 shares during the last quarter. CWM LLC increased its position in shares of Enbridge by 32.8% during the first quarter. CWM LLC now owns 41,067 shares of the pipeline company’s stock valued at $1,567,000 after acquiring an additional 10,138 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Enbridge by 3.4% during the first quarter. Cerity Partners LLC now owns 195,081 shares of the pipeline company’s stock valued at $7,441,000 after acquiring an additional 6,409 shares during the last quarter. Institutional investors own 48.29% of the company’s stock.
Enbridge Stock Performance
ENB stock traded down $0.18 during trading on Thursday, reaching $35.08. The stock had a trading volume of 4,496,013 shares, compared to its average volume of 3,708,403. The stock’s 50 day moving average is $36.20 and its two-hundred day moving average is $37.47. The firm has a market cap of $70.95 billion, a PE ratio of 25.19, a PEG ratio of 2.72 and a beta of 0.84. Enbridge Inc. has a 52 week low of $33.96 and a 52 week high of $44.10. The company has a current ratio of 0.64, a quick ratio of 0.55 and a debt-to-equity ratio of 1.27.
Enbridge Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.67 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date of this dividend is Monday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 187.86%.
Analyst Upgrades and Downgrades
ENB has been the subject of a number of analyst reports. StockNews.com started coverage on Enbridge in a report on Thursday, August 17th. They issued a “hold” rating for the company. TD Securities reduced their price target on Enbridge from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Finally, Royal Bank of Canada reduced their price target on Enbridge from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.67.
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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