Financial Management Professionals Inc. grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3,190.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,106 shares of the pipeline company’s stock after buying an additional 2,042 shares during the quarter. Financial Management Professionals Inc.’s holdings in Enbridge were worth $74,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock worth $2,214,876,000 after buying an additional 1,200,391 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Enbridge by 6.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock worth $468,753,000 after buying an additional 833,190 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Enbridge by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock worth $448,587,000 after buying an additional 103,842 shares during the period. Salient Capital Advisors LLC lifted its holdings in shares of Enbridge by 5.2% in the 2nd quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock worth $382,165,000 after buying an additional 519,679 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in shares of Enbridge by 1.0% in the 2nd quarter. Scotia Capital Inc. now owns 8,243,112 shares of the pipeline company’s stock worth $296,386,000 after buying an additional 78,848 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.
Shares of NYSE ENB traded up $0.24 during mid-day trading on Friday, reaching $35.90. 318,810 shares of the company were exchanged, compared to its average volume of 2,992,274. 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 stock has a market cap of $72.91 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.71 and a beta of 0.57. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The firm has a 50-day moving average of $34.50 and a 200 day moving average of $35.55.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.251 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, September 30th. Enbridge’s dividend payout ratio (DPR) is currently 107.80%.
Several brokerages have weighed in on ENB. Goldman Sachs Group began coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a report on Tuesday, July 2nd. Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a report on Thursday, June 13th. Finally, Scotiabank upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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