Shell Asset Management Co. lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 48.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 207,552 shares of the pipeline company’s stock after selling 195,344 shares during the period. Shell Asset Management Co.’s holdings in Enbridge were worth $8,144,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in ENB. Spectrum Management Group Inc. bought a new position in shares of Enbridge during the third quarter worth about $113,000. Fieldpoint Private Securities LLC bought a new position in shares of Enbridge during the third quarter worth about $130,000. Valeo Financial Advisors LLC bought a new position in shares of Enbridge during the third quarter worth about $146,000. Field & Main Bank bought a new position in shares of Enbridge during the fourth quarter worth about $149,000. Finally, Patten Group Inc. grew its position in shares of Enbridge by 333.2% during the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock worth $152,000 after acquiring an additional 12,116 shares during the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.
Several equities analysts have recently commented on ENB shares. Canaccord Genuity restated a “buy” rating and set a $54.00 price target on shares of Enbridge in a research report on Thursday, November 30th. Morgan Stanley lowered their price target on shares of Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Bank of America started coverage on shares of Enbridge in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $51.25.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a $0.5278 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio is currently 150.36%.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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