KG&L Capital Management LLC Has $266,000 Stock Position in Enbridge Inc (NYSE:ENB)

KG&L Capital Management LLC lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,606 shares of the pipeline company’s stock after buying an additional 1,619 shares during the quarter. KG&L Capital Management LLC’s holdings in Enbridge were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Enbridge by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock valued at $2,214,876,000 after purchasing an additional 1,200,391 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Enbridge by 6.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock valued at $468,753,000 after purchasing an additional 833,190 shares during the last quarter. Bank of Nova Scotia raised its stake in Enbridge by 0.8% during the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock valued at $448,587,000 after purchasing an additional 103,842 shares during the last quarter. Salient Capital Advisors LLC raised its stake in Enbridge by 5.2% during the 2nd quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock valued at $382,165,000 after purchasing an additional 519,679 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in Enbridge by 1.0% during the 2nd quarter. Scotia Capital Inc. now owns 8,243,112 shares of the pipeline company’s stock valued at $296,386,000 after purchasing an additional 78,848 shares during the last quarter. Institutional investors and hedge funds own 53.82% of the company’s stock.

Several research firms recently commented on ENB. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a research note on Thursday, June 13th. ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group began coverage on shares of Enbridge in a research note on Thursday, July 18th. They set a “neutral” rating for the company. Finally, Bank of America cut shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average price target of $43.75.

Enbridge stock traded up $0.25 on Friday, hitting $35.91. The company’s stock had a trading volume of 2,463,930 shares, compared to its average volume of 2,992,274. The firm has a market cap of $72.91 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.71 and a beta of 0.57. 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 company has a fifty day moving average price of $34.50 and a 200-day moving average price of $35.55. Enbridge Inc has a one year low of $28.82 and a one year high of $38.04.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm had revenue of $9.92 billion for the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. Analysts anticipate that Enbridge Inc will post 2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.251 dividend. This represents a $1.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, September 30th. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.

Enbridge Company Profile

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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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