Cetera Advisor Networks LLC trimmed its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 300,145 shares of the pipeline company’s stock after selling 16,991 shares during the period. Cetera Advisor Networks LLC’s holdings in Enbridge were worth $11,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. acquired a new stake in Enbridge during the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in Enbridge during the 4th quarter valued at approximately $25,000. Steward Financial Group LLC lifted its stake in Enbridge by 114.6% during the 2nd quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 384 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Enbridge during the 1st quarter valued at approximately $27,000. Finally, Northwest Bank & Trust Co acquired a new stake in Enbridge during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 48.29% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Barclays decreased their price objective on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. Royal Bank of Canada cut their target price on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, November 6th. National Bank Financial started coverage on shares of Enbridge in a report on Monday, September 11th. They set a “sector perform” rating for the company. Scotiabank started coverage on shares of Enbridge in a report on Monday, September 11th. They set a “sector perform” rating for the company. Finally, CIBC lifted their target price on shares of Enbridge from $63.00 to $64.00 and gave the company an “outperformer” rating in a report on Monday, September 11th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.33.
Enbridge Price Performance
Shares of NYSE ENB opened at $33.68 on Friday. The firm has a market cap of $71.59 billion, a PE ratio of 30.34, a PEG ratio of 2.75 and a beta of 0.86. The firm has a fifty day moving average of $33.13 and a 200 day moving average of $35.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.67. Enbridge Inc. has a one year low of $31.03 and a one year high of $42.12.
Enbridge Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 7.60%. The ex-dividend date is Tuesday, November 14th. Enbridge’s payout ratio is presently 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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