Massachusetts Financial Services Co. MA raised its holdings in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,875,345 shares of the pipeline company’s stock after acquiring an additional 114,446 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.18% of Enbridge worth $128,623,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in ENB. Coppell Advisory Solutions Corp. acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the 4th quarter worth $25,000. Steward Financial Group LLC boosted its position in shares of Enbridge by 114.6% in the 2nd quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock worth $26,000 after buying an additional 384 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Enbridge in the 2nd quarter valued at about $26,000. Finally, Tyler Stone Wealth Management acquired a new position in Enbridge during the second quarter worth about $26,000. 48.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ENB. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Wolfe Research lowered Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Royal Bank of Canada dropped their price objective on Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Wells Fargo & Company lowered shares of Enbridge from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Finally, Barclays lowered their price target on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.20.
Enbridge Stock Performance
NYSE:ENB opened at $34.43 on Thursday. The company has a market cap of $73.17 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.23 and a beta of 0.85. The firm’s 50 day moving average is $35.78 and its two-hundred day moving average is $34.68. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.92. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 1.12.
Enbridge Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be given a $0.659 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio (DPR) is 234.23%.
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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