Orion Portfolio Solutions LLC lessened its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,312 shares of the pipeline company’s stock after selling 6,912 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Enbridge were worth $1,492,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its position in Enbridge by 3.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,574 shares of the pipeline company’s stock worth $303,000 after purchasing an additional 236 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Enbridge by 1.8% during the first quarter. Belpointe Asset Management LLC now owns 13,703 shares of the pipeline company’s stock worth $632,000 after purchasing an additional 237 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Enbridge by 0.4% in the first quarter. Wedbush Securities Inc. now owns 55,429 shares of the pipeline company’s stock worth $2,555,000 after buying an additional 238 shares during the period. Koshinski Asset Management Inc. raised its holdings in shares of Enbridge by 2.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 12,562 shares of the pipeline company’s stock valued at $579,000 after buying an additional 245 shares during the period. Finally, First City Capital Management Inc. raised its holdings in shares of Enbridge by 5.3% during the 1st quarter. First City Capital Management Inc. now owns 4,984 shares of the pipeline company’s stock valued at $230,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 49.26% of the company’s stock.
Enbridge Stock Down 0.2 %
Shares of Enbridge stock opened at $40.07 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge Inc. has a 1-year low of $36.21 and a 1-year high of $47.67. The business’s fifty day moving average price is $42.76 and its two-hundred day moving average price is $43.84. The company 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 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%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on ENB shares. Raymond James raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. Industrial Alliance Securities upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price target for the company in a research note on Wednesday, August 3rd. National Bank Financial increased their price objective on shares of Enbridge from C$60.00 to C$61.00 in a research note on Tuesday, August 2nd. Finally, US Capital Advisors downgraded shares of Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.
Enbridge Company Profile
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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