CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,689 shares of the pipeline company’s stock, valued at approximately $535,000.
Other large investors also recently added to or reduced their stakes in the company. Sterneck Capital Management LLC raised its stake in shares of Enbridge by 2.6% in the 4th quarter. Sterneck Capital Management LLC now owns 9,721 shares of the pipeline company’s stock valued at $380,000 after buying an additional 250 shares in the last quarter. Buckingham Capital Management Inc. boosted its stake in Enbridge by 4.1% in the fourth quarter. Buckingham Capital Management Inc. now owns 6,699 shares of the pipeline company’s stock worth $262,000 after buying an additional 263 shares in the last quarter. Parsec Financial Management Inc. grew its stake in shares of Enbridge by 2.6% in the fourth quarter. Parsec Financial Management Inc. now owns 10,657 shares of the pipeline company’s stock worth $416,000 after acquiring an additional 265 shares during the last quarter. Lakeview Capital Partners LLC raised its stake in shares of Enbridge by 2.0% in the fourth quarter. Lakeview Capital Partners LLC now owns 14,994 shares of the pipeline company’s stock worth $586,000 after buying an additional 290 shares during the period. Finally, Principal Street Partners LLC lifted its stake in shares of Enbridge by 3.5% during the 3rd quarter. Principal Street Partners LLC now owns 8,790 shares of the pipeline company’s stock worth $349,000 after acquiring an additional 297 shares during the last quarter. 53.23% of the stock is currently owned by institutional investors.
Shares of NYSE ENB traded up $0.21 during midday trading on Thursday, hitting $42.68. The stock had a trading volume of 9,389,982 shares, compared to its average volume of 4,874,431. The business’s 50 day moving average is $45.13 and its 200-day moving average is $42.17. The company has a quick ratio of 0.40, a current ratio of 0.49 and a debt-to-equity ratio of 1.22. The company has a market cap of $86.48 billion, a P/E ratio of 18.43, a PEG ratio of 3.18 and a beta of 0.77. Enbridge Inc. has a 52 week low of $36.21 and a 52 week high of $47.42.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be issued a $0.669 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is 117.90%.
A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Enbridge from C$60.00 to C$67.00 in a report on Tuesday, April 26th. Royal Bank of Canada lifted their price target on shares of Enbridge from C$60.00 to C$65.00 in a research report on Monday. National Bank Financial raised their target price on shares of Enbridge from C$57.00 to C$60.00 in a report on Monday. TD Securities upped their target price on shares of Enbridge from C$61.00 to C$62.00 in a research note on Monday. Finally, CIBC raised their price target on Enbridge from C$57.00 to C$58.00 in a research note on Monday, February 14th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $55.43.
Enbridge Profile (Get Rating)
Enbridge Inc 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.
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