Pekin Hardy Strauss Inc. raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,685 shares of the pipeline company’s stock after acquiring an additional 722 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Enbridge were worth $989,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in ENB. Isthmus Partners LLC purchased a new position in Enbridge during the 2nd quarter valued at about $26,000. Corsicana & Co. acquired a new stake in shares of Enbridge during the 2nd quarter valued at about $29,000. Harbour Investments Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $36,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Enbridge during the 2nd quarter valued at about $41,000. Finally, Vigilant Capital Management LLC lifted its holdings in shares of Enbridge by 95.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,172 shares of the pipeline company’s stock valued at $47,000 after buying an additional 572 shares during the last quarter. 48.05% of the stock is currently owned by institutional investors.
Shares of NYSE ENB opened at $40.03 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $39.30 and its two-hundred day moving average is $38.73. The company has a market cap of $81.09 billion, a P/E ratio of 17.25, a P/E/G ratio of 2.98 and a beta of 0.86. Enbridge Inc. has a 12 month low of $26.97 and a 12 month high of $41.13.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were given a $0.6645 dividend. This represents a $2.66 annualized dividend and a yield of 6.64%. The ex-dividend date was Thursday, August 12th. Enbridge’s dividend payout ratio is currently 147.51%.
Several equities research analysts have recently issued reports on ENB shares. Credit Suisse Group upgraded Enbridge from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $55.00 in a report on Thursday, June 17th. Scotiabank lifted their price target on Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, July 8th. Royal Bank of Canada lifted their price target on Enbridge from C$56.00 to C$57.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. Zacks Investment Research lowered Enbridge from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Monday, June 14th. Finally, Tudor Pickering restated a “buy” rating and issued a C$52.00 target price on shares of Enbridge in a report on Friday, June 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $52.08.
Enbridge Company Profile
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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