Tranquilli Financial Advisor LLC raised its position in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 4.7% in the first quarter, HoldingsChannel reports. The fund owned 13,653 shares of the pipeline company’s stock after purchasing an additional 617 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Enbridge were worth $629,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Enbridge by 3.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,574 shares of the pipeline company’s stock valued at $303,000 after buying an additional 236 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of Enbridge by 1.8% during the first quarter. Belpointe Asset Management LLC now owns 13,703 shares of the pipeline company’s stock valued at $632,000 after buying an additional 237 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Enbridge by 0.4% during the first quarter. Wedbush Securities Inc. now owns 55,429 shares of the pipeline company’s stock worth $2,555,000 after acquiring an additional 238 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Enbridge by 2.0% during the first quarter. Koshinski Asset Management Inc. now owns 12,562 shares of the pipeline company’s stock worth $579,000 after acquiring an additional 245 shares during the period. Finally, First City Capital Management Inc. lifted its holdings in Enbridge by 5.3% during the first quarter. First City Capital Management Inc. now owns 4,984 shares of the pipeline company’s stock worth $230,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 49.26% of the company’s stock.
Enbridge Stock Performance
NYSE:ENB opened at $41.13 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.49 and a current ratio of 0.58. Enbridge Inc. has a 52-week low of $36.21 and a 52-week high of $47.67. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.98 and a beta of 0.79. The business’s fifty day moving average is $42.86 and its 200 day moving average is $43.96.
Enbridge Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a dividend of $0.668 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.50%. Enbridge’s payout ratio is 140.00%.
Analyst Ratings Changes
A number of analysts recently commented on the company. Raymond James lifted their price target on Enbridge from C$55.00 to C$57.00 in a report on Tuesday, August 2nd. US Capital Advisors lowered Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. National Bank Financial lifted their price target on Enbridge from C$60.00 to C$61.00 in a report on Tuesday, August 2nd. Finally, Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price target on the stock in a report on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.46.
Enbridge Company Profile
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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