First Bank & Trust lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 79,200.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,688 shares of the pipeline company’s stock after purchasing an additional 12,672 shares during the period. First Bank & Trust’s holdings in Enbridge were worth $457,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of ENB. Salient Capital Advisors LLC increased its holdings in shares of Enbridge by 152.6% in the first quarter. Salient Capital Advisors LLC now owns 10,377,798 shares of the pipeline company’s stock valued at $369,715,000 after purchasing an additional 6,269,108 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Enbridge in the first quarter valued at approximately $225,056,000. Toronto Dominion Bank increased its holdings in shares of Enbridge by 48.1% in the first quarter. Toronto Dominion Bank now owns 12,809,209 shares of the pipeline company’s stock valued at $463,864,000 after purchasing an additional 4,162,457 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $70,385,000. Finally, GQG Partners LLC acquired a new stake in shares of Enbridge in the first quarter valued at approximately $63,341,000. 55.19% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ENB opened at $32.76 on Wednesday. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average is $35.23. The firm has a market capitalization of $67.80 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.59.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a $0.559 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a yield of 6.83%. The ex-dividend date is Wednesday, August 14th. Enbridge’s payout ratio is presently 106.83%.
In other Enbridge news, insider Albert Monaco purchased 7,848 shares of the stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $49.81 per share, for a total transaction of $390,908.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.
A number of analysts recently weighed in on ENB shares. Credit Suisse Group lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Bank of America lowered shares of 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 started coverage on shares of Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Barclays began coverage on shares of Enbridge in a report on Tuesday, April 9th. They issued an “overweight” rating for the company. Finally, ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company presently has an average 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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