Patten Group Inc. grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,721 shares of the pipeline company’s stock after buying an additional 2,243 shares during the quarter. Patten Group Inc.’s holdings in Enbridge were worth $466,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Synovus Financial Corp raised its position in shares of Enbridge by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 286,618 shares of the pipeline company’s stock valued at $10,068,000 after buying an additional 10,328 shares in the last quarter. Full Sail Capital LLC acquired a new position in shares of Enbridge in the 3rd quarter valued at approximately $237,000. Commonwealth Equity Services LLC raised its position in shares of Enbridge by 3.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 435,376 shares of the pipeline company’s stock valued at $15,273,000 after buying an additional 14,542 shares in the last quarter. Pettyjohn Wood & White Inc. grew its holdings in shares of Enbridge by 0.5% during the 3rd quarter. Pettyjohn Wood & White Inc. now owns 59,347 shares of the pipeline company’s stock valued at $2,082,000 after purchasing an additional 283 shares during the last quarter. Finally, Evoke Wealth LLC bought a new stake in shares of Enbridge during the 3rd quarter valued at approximately $906,000. Institutional investors own 53.50% of the company’s stock.
ENB opened at $40.23 on Wednesday. Enbridge Inc has a fifty-two week low of $32.23 and a fifty-two week high of $40.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.50. The firm has a market capitalization of $81.51 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 3.14 and a beta of 0.64. The company’s 50 day moving average price is $39.06 and its two-hundred day moving average price is $36.28.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.6119 per share. This represents a $2.45 dividend on an annualized basis and a yield of 6.08%. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, February 13th. Enbridge’s payout ratio is presently 108.78%.
Several equities research analysts recently issued reports on ENB shares. Argus started coverage on shares of Enbridge in a report on Wednesday, December 4th. They set a “buy” rating and a $44.00 price target on the stock. Jefferies Financial Group started coverage on shares of Enbridge in a report on Thursday, December 5th. They set a “hold” rating and a $54.00 price target on the stock. Barclays lifted their price target on shares of Enbridge from $51.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday. ValuEngine raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada set a $56.00 price target on shares of Enbridge and gave the company an “outperform” rating in a report on Saturday, December 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.90.
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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