Aevitas Wealth Management Inc. lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, HoldingsChannel reports. The firm owned 47,007 shares of the pipeline company’s stock after selling 285 shares during the quarter. Enbridge makes up approximately 1.7% of Aevitas Wealth Management Inc.’s holdings, making the stock its 19th largest holding. Aevitas Wealth Management Inc.’s holdings in Enbridge were worth $1,649,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. lifted its position in Enbridge by 25.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 922,893 shares of the pipeline company’s stock worth $33,464,000 after acquiring an additional 185,855 shares in the last quarter. Neville Rodie & Shaw Inc. increased its holdings in Enbridge by 47.6% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 27,735 shares of the pipeline company’s stock worth $1,001,000 after purchasing an additional 8,945 shares during the last quarter. Thomasville National Bank increased its holdings in Enbridge by 3.2% during the 2nd quarter. Thomasville National Bank now owns 432,168 shares of the pipeline company’s stock worth $15,592,000 after purchasing an additional 13,370 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Enbridge during the 2nd quarter worth approximately $853,000. Finally, OLD Point Trust & Financial Services N A increased its holdings in Enbridge by 0.9% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 150,216 shares of the pipeline company’s stock worth $5,420,000 after purchasing an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 53.82% of the company’s stock.
Shares of NYSE ENB traded up $0.02 during trading on Monday, reaching $36.13. The stock had a trading volume of 44,600 shares, compared to its average volume of 3,120,045. Enbridge Inc has a one year low of $28.82 and a one year high of $38.04. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.63. The stock has a market cap of $73.08 billion, a PE ratio of 17.62, a P/E/G ratio of 2.79 and a beta of 0.57. The firm’s 50 day moving average price is $34.95 and its two-hundred day moving average price is $35.52.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.251 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. Enbridge’s dividend payout ratio (DPR) is 107.80%.
Several equities research analysts have issued reports on ENB shares. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group started coverage on Enbridge in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Bank of America downgraded Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, July 2nd. Scotiabank upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Barclays downgraded Enbridge from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $52.00 to $51.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.96.
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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