Bank of Hawaii cut its holdings in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,915 shares of the pipeline company’s stock after selling 915 shares during the quarter. Bank of Hawaii’s holdings in Enbridge were worth $294,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quilter Plc acquired a new stake in Enbridge in the first quarter valued at about $293,879,000. Coppell Advisory Solutions Corp. acquired a new position in Enbridge during the fourth quarter worth $25,000. Industrial Alliance Investment Management Inc. purchased a new position in Enbridge in the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Enbridge in the first quarter valued at $27,000. Finally, Steward Financial Group LLC grew its stake in shares of Enbridge by 114.6% during the 2nd quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 384 shares during the period. 48.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ENB has been the topic of several recent analyst reports. Wolfe Research lowered shares of Enbridge from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, October 17th. National Bank Financial began coverage on Enbridge in a research report on Monday, September 11th. They set a “sector perform” rating on the stock. Scotiabank assumed coverage on Enbridge in a research note on Monday, September 11th. They set a “sector perform” rating for the company. Credit Suisse Group lowered their price objective on shares of Enbridge from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 13th. Finally, StockNews.com started coverage on shares of Enbridge in a research report on Thursday, October 5th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.33.
Enbridge Trading Down 1.4 %
Shares of ENB stock opened at $32.92 on Friday. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.75 and a beta of 0.86. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $33.13 and a 200 day moving average price of $35.44. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $42.12.
Enbridge Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 7.78%. The ex-dividend date is Tuesday, November 14th. Enbridge’s payout ratio is 230.63%.
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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