Montrusco Bolton Investments Inc. Has $90.72 Million Holdings in Enbridge Inc. (NYSE:ENB)

Montrusco Bolton Investments Inc. lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 25.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,507,775 shares of the pipeline company’s stock after acquiring an additional 504,265 shares during the period. Enbridge makes up approximately 1.1% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 26th largest position. Montrusco Bolton Investments Inc. owned about 0.12% of Enbridge worth $90,718,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Price Performance

Shares of ENB stock traded down $0.01 on Friday, reaching $36.75. The company had a trading volume of 7,893,846 shares, compared to its average volume of 7,795,651. The stock has a market capitalization of $78.13 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The business’s 50-day moving average is $35.77 and its 200 day moving average is $35.26.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 135.53%.

Enbridge Company Profile

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.