Highland Capital Management LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 146.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,632 shares of the pipeline company’s stock after purchasing an additional 7,500 shares during the period. Highland Capital Management LLC’s holdings in Enbridge were worth $534,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Enbridge by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock worth $3,188,593,000 after purchasing an additional 2,491,924 shares during the last quarter. GQG Partners LLC grew its stake in shares of Enbridge by 389.4% in the first quarter. GQG Partners LLC now owns 47,579,706 shares of the pipeline company’s stock valued at $2,191,962,000 after buying an additional 37,857,799 shares in the last quarter. Deutsche Bank AG lifted its holdings in Enbridge by 10.6% during the 4th quarter. Deutsche Bank AG now owns 22,595,887 shares of the pipeline company’s stock valued at $883,048,000 after purchasing an additional 2,164,782 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 22,562,558 shares of the pipeline company’s stock worth $1,025,815,000 after buying an additional 848,948 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Enbridge by 40.9% in the first quarter. The Manufacturers Life Insurance Company now owns 19,961,512 shares of the pipeline company’s stock valued at $920,387,000 after acquiring an additional 5,794,908 shares during the last quarter. 49.26% of the stock is owned by institutional investors.
Enbridge Trading Down 0.2 %
Shares of ENB opened at $40.07 on Friday. The firm’s 50-day moving average is $42.76 and its two-hundred day moving average is $43.84. The firm has a market capitalization of $81.13 billion, a P/E ratio of 21.09, a PEG ratio of 2.91 and a beta of 0.79. Enbridge Inc. has a twelve month low of $36.21 and a twelve month high of $47.67. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 1.21.
Enbridge Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a dividend of $0.668 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.67%. Enbridge’s dividend payout ratio (DPR) is 140.00%.
Analyst Upgrades and Downgrades
ENB has been the topic of several recent analyst reports. Raymond James raised Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, September 12th. Industrial Alliance Securities raised Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price objective on the stock in a report on Wednesday, August 3rd. US Capital Advisors lowered Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, National Bank Financial lifted their price objective on Enbridge from C$60.00 to C$61.00 in a research note on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.75.
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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