Huntington National Bank decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,402 shares of the pipeline company’s stock after selling 3,161 shares during the period. Huntington National Bank’s holdings in Enbridge were worth $1,746,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ENB. Capital International Investors raised its holdings in Enbridge by 22.0% in the 1st quarter. Capital International Investors now owns 155,763,559 shares of the pipeline company’s stock valued at $4,533,297,000 after acquiring an additional 28,059,331 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Enbridge by 55.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,899,972 shares of the pipeline company’s stock valued at $869,790,000 after acquiring an additional 10,695,387 shares in the last quarter. AGF Investments Inc. raised its holdings in Enbridge by 298.8% in the 1st quarter. AGF Investments Inc. now owns 3,788,345 shares of the pipeline company’s stock valued at $110,311,000 after acquiring an additional 2,838,416 shares in the last quarter. Wellington Management Group LLP raised its holdings in Enbridge by 29.9% in the 1st quarter. Wellington Management Group LLP now owns 9,155,902 shares of the pipeline company’s stock valued at $263,985,000 after acquiring an additional 2,108,220 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Enbridge by 37.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 7,669,267 shares of the pipeline company’s stock valued at $220,811,000 after acquiring an additional 2,078,243 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ENB traded down $0.20 during midday trading on Friday, hitting $32.00. The company had a trading volume of 2,646,005 shares, compared to its average volume of 2,689,048. The firm has a fifty day simple moving average of $30.73 and a 200 day simple moving average of $33.26. The stock has a market cap of $64.81 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 1.71 and a beta of 0.83. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. Enbridge Inc has a 12 month low of $22.57 and a 12 month high of $43.15.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.6021 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date is Thursday, August 13th. This is a positive change from Enbridge’s previous quarterly dividend of $0.57. Enbridge’s dividend payout ratio is currently 115.00%.
A number of equities analysts have recently issued reports on the company. Morgan Stanley raised Enbridge from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $49.00 to $54.00 in a report on Wednesday, July 15th. Credit Suisse Group reissued a “hold” rating and issued a $48.00 target price on shares of Enbridge in a report on Friday, June 26th. Wells Fargo & Co cut Enbridge from an “overweight” rating to an “equal weight” rating and set a $51.00 target price for the company. in a report on Wednesday, July 22nd. CIBC increased their price target on Enbridge from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Raymond James restated a “buy” rating and set a $55.00 price target on shares of Enbridge in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. Enbridge has a consensus rating of “Buy” and a consensus target price of $51.59.
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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