Vanguard Group Inc. lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,387,908 shares of the pipeline company’s stock after buying an additional 1,200,391 shares during the quarter. Vanguard Group Inc. owned about 3.03% of Enbridge worth $2,214,876,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Manchester Financial Inc. purchased a new position in Enbridge during the 2nd quarter valued at approximately $25,000. Westside Investment Management Inc. purchased a new position in Enbridge during the 2nd quarter valued at approximately $25,000. SRS Capital Advisors Inc. purchased a new position in Enbridge during the 2nd quarter valued at approximately $35,000. Cascade Investment Advisors Inc. purchased a new position in Enbridge during the 2nd quarter valued at approximately $36,000. Finally, Northern Oak Wealth Management Inc. purchased a new position in Enbridge during the 2nd quarter valued at approximately $36,000. 53.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge stock traded up $0.27 on Friday, reaching $35.47. The company had a trading volume of 119,643 shares, compared to its average volume of 3,170,349. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The firm has a market cap of $71.42 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.71 and a beta of 0.57. The firm’s 50-day moving average price is $33.80 and its two-hundred day moving average price is $35.69.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.559 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Wednesday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 107.80%.
ENB has been the subject of several research analyst reports. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Tuesday, July 2nd. Goldman Sachs Group began coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a report on Thursday, June 13th. Finally, ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.75.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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