Scotia Capital Inc. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,243,112 shares of the pipeline company’s stock after buying an additional 78,848 shares during the quarter. Enbridge makes up 3.6% of Scotia Capital Inc.’s holdings, making the stock its 4th largest holding. Scotia Capital Inc. owned about 0.41% of Enbridge worth $296,386,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Financial Inc. bought a new stake in shares of Enbridge during the 2nd quarter valued at $25,000. Westside Investment Management Inc. bought a new position in Enbridge in the 2nd quarter worth $25,000. SRS Capital Advisors Inc. bought a new position in Enbridge in the 2nd quarter worth $35,000. Cascade Investment Advisors Inc. bought a new position in Enbridge in the 2nd quarter worth $36,000. Finally, Northern Oak Wealth Management Inc. purchased a new stake in shares of Enbridge in the 2nd quarter worth about $36,000. 53.86% of the stock is currently owned by institutional investors and hedge funds.
ENB traded down $0.05 during midday trading on Wednesday, reaching $34.67. The company’s stock had a trading volume of 158,427 shares, compared to its average volume of 3,408,114. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The stock’s 50-day moving average is $33.62 and its 200-day moving average is $35.77. The firm has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.70 and a beta of 0.57. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92.
The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.559 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date was Wednesday, August 14th. Enbridge’s dividend payout ratio (DPR) is 107.80%.
A number of equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America downgraded Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Tuesday, July 2nd. Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a research report on Thursday, June 13th. Finally, Goldman Sachs Group assumed coverage on Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus 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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