Haverford Trust Co. boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,807 shares of the pipeline company’s stock after acquiring an additional 288 shares during the quarter. Haverford Trust Co.’s holdings in Enbridge were worth $274,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Bank of Nova Scotia Trust Co. lifted its position in Enbridge by 12.5% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock worth $22,555,000 after buying an additional 69,399 shares in the last quarter. NEXT Financial Group Inc lifted its position in Enbridge by 67.6% during the 2nd quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock worth $910,000 after buying an additional 10,170 shares in the last quarter. National Pension Service bought a new stake in Enbridge during the 2nd quarter worth about $98,372,000. Lee Financial Group Hawaii Inc. bought a new stake in Enbridge during the 2nd quarter worth about $784,000. Finally, Synovus Financial Corp lifted its position in Enbridge by 3.7% during the 3rd quarter. Synovus Financial Corp now owns 286,618 shares of the pipeline company’s stock worth $10,068,000 after buying an additional 10,328 shares in the last quarter. 54.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of ENB stock traded up $0.74 on Friday, reaching $37.47. The stock had a trading volume of 5,499,096 shares, compared to its average volume of 3,344,608. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average is $35.89 and its two-hundred day moving average is $35.48. The firm has a market capitalization of $74.72 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.80 and a beta of 0.58. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.561 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.99%. This is a boost from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date is Thursday, November 14th. Enbridge’s dividend payout ratio is presently 107.80%.
Several brokerages have commented on ENB. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Goldman Sachs Group began coverage on shares of Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. ValuEngine cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. CIBC cut their price target on shares of Enbridge from $57.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their price target on shares of Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Enbridge currently has an average rating of “Hold” and an average target price of $45.68.
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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