UBS Group AG Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

UBS Group AG raised its position in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,418,805 shares of the pipeline company’s stock after acquiring an additional 127,514 shares during the quarter. UBS Group AG owned approximately 0.11% of Enbridge worth $80,280,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in 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 in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Enbridge by 109,143.5% in the fourth 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 purchasing an additional 48,423,715 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Enbridge by 10.3% in the second quarter. 1832 Asset Management L.P. now owns 30,213,371 shares of the pipeline company’s stock valued at $1,122,427,000 after purchasing an additional 2,831,889 shares in the last quarter. TD Asset Management Inc grew its position in Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after acquiring an additional 664,057 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Enbridge by 13.9% during the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after acquiring an additional 2,756,079 shares during the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Royal Bank of Canada cut their target price on Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Wolfe Research cut Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Barclays cut their target price on Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. Stifel Nicolaus started coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Finally, Wells Fargo & Company cut Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.20.

Get Our Latest Report on Enbridge

Enbridge Trading Up 2.0 %

Shares of ENB opened at $34.90 on Tuesday. 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’s 50-day moving average is $35.75 and its two-hundred day moving average is $34.60. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.92. The firm has a market capitalization of $74.18 billion, a P/E ratio of 16.62, a PEG ratio of 3.19 and a beta of 0.85.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.659 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio is presently 123.81%.

Enbridge Profile

(Free Report)

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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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