Enbridge Inc. (NYSE:ENB) Shares Purchased by UBS Group AG

UBS Group AG boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,426,281 shares of the pipeline company’s stock after acquiring an additional 7,476 shares during the quarter. UBS Group AG owned about 0.11% of Enbridge worth $87,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge in the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. increased its stake in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the fourth quarter worth about $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

ENB opened at $36.60 on Thursday. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The stock has a market cap of $77.81 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.47 and a beta of 0.86. The stock’s 50 day simple moving average is $35.81 and its 200 day simple moving average is $35.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is 136.04%.

About Enbridge

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.