Thomasville National Bank raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.1% in the third quarter, Holdings Channel reports. The institutional investor owned 462,833 shares of the pipeline company’s stock after buying an additional 30,665 shares during the quarter. Enbridge accounts for about 2.7% of Thomasville National Bank’s portfolio, making the stock its 8th biggest holding. Thomasville National Bank’s holdings in Enbridge were worth $16,236,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ENB. DekaBank Deutsche Girozentrale raised its position in shares of Enbridge by 47.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 126,066 shares of the pipeline company’s stock worth $4,372,000 after buying an additional 40,476 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Enbridge by 16.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 435,501 shares of the pipeline company’s stock valued at $15,791,000 after purchasing an additional 62,269 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Enbridge during the 1st quarter valued at about $394,000. MML Investors Services LLC grew its holdings in Enbridge by 20.1% during the 1st quarter. MML Investors Services LLC now owns 164,614 shares of the pipeline company’s stock valued at $5,969,000 after purchasing an additional 27,546 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Enbridge during the 1st quarter valued at about $244,000. Institutional investors own 53.82% of the company’s stock.
ENB stock traded up $0.20 during mid-day trading on Thursday, reaching $34.34. The company had a trading volume of 1,527,366 shares, compared to its average volume of 3,158,586. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The company has a market capitalization of $69.01 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.87 and a beta of 0.57. The firm has a 50 day moving average of $34.29 and a 200 day moving average of $35.62. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.251 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.92%. Enbridge’s dividend payout ratio is currently 107.80%.
Several brokerages recently commented on ENB. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research downgraded shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a report on Thursday, June 13th. Goldman Sachs Group began coverage on shares of Enbridge in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Finally, Bank of America downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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