Vise Technologies Inc. boosted its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,860 shares of the pipeline company’s stock after buying an additional 1,142 shares during the quarter. Vise Technologies Inc.’s holdings in Enbridge were worth $292,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of ENB. Vanguard Group Inc. grew its position in shares of Enbridge by 3.7% in the first quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock valued at $3,188,593,000 after purchasing an additional 2,491,924 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Enbridge by 109,143.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after buying an additional 48,423,715 shares during the last quarter. 1832 Asset Management L.P. increased its position in Enbridge by 12.2% in the 1st quarter. 1832 Asset Management L.P. now owns 27,381,482 shares of the pipeline company’s stock worth $1,044,604,000 after buying an additional 2,978,359 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Enbridge by 4.4% during the second quarter. Mackenzie Financial Corp now owns 19,766,987 shares of the pipeline company’s stock worth $734,641,000 after buying an additional 830,412 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $723,255,000. Institutional investors own 48.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on ENB shares. Credit Suisse Group dropped their target price on shares of Enbridge from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 13th. Wells Fargo & Company downgraded Enbridge from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. National Bank Financial began coverage on Enbridge in a report on Monday, September 11th. They issued a “sector perform” rating for the company. Wolfe Research lowered Enbridge from a “peer perform” rating to an “underperform” rating in a report on Tuesday, October 17th. Finally, Barclays lowered their price objective on Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $55.33.
Enbridge Stock Performance
Shares of NYSE:ENB opened at $33.40 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.67 and a quick ratio of 0.55. The business’s fifty day moving average price is $33.21 and its two-hundred day moving average price is $35.61. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $42.12. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86.
Enbridge Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s dividend payout ratio (DPR) is currently 236.94%.
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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