Keybank National Association OH decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,515 shares of the pipeline company’s stock after selling 5,250 shares during the quarter. Keybank National Association OH’s holdings in Enbridge were worth $2,684,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Enbridge by 2.0% in the second quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock worth $2,214,876,000 after purchasing an additional 1,200,391 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Enbridge by 6.8% in the second quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock worth $468,753,000 after purchasing an additional 833,190 shares in the last quarter. Bank of Nova Scotia raised its holdings in Enbridge by 0.8% in the second quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock worth $448,587,000 after purchasing an additional 103,842 shares in the last quarter. Salient Capital Advisors LLC raised its holdings in Enbridge by 5.2% in the second quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock worth $382,165,000 after purchasing an additional 519,679 shares in the last quarter. Finally, Scotia Capital Inc. raised its holdings in Enbridge by 1.0% in the second quarter. Scotia Capital Inc. now owns 8,243,112 shares of the pipeline company’s stock worth $296,386,000 after purchasing an additional 78,848 shares in the last quarter. Institutional investors and hedge funds own 54.21% of the company’s stock.
Shares of NYSE:ENB traded up $0.74 on Friday, hitting $37.47. 5,499,096 shares of the company traded hands, compared to its average volume of 3,344,608. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04. 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 stock has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $35.48. The company has a market cap of $74.72 billion, a PE ratio of 18.28, a PEG ratio of 2.80 and a beta of 0.58.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.561 per share. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.24 annualized dividend and a dividend yield of 5.99%. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.
A number of research firms have issued reports on ENB. Citigroup increased their price objective on Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays downgraded Enbridge from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $51.00 in a report on Tuesday, October 15th. Scotiabank upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. ValuEngine downgraded Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, US Capital Advisors restated an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.68.
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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