Simmons Bank Has $767,000 Position in Enbridge Inc $ENB

Simmons Bank cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,929 shares of the pipeline company’s stock after selling 4,319 shares during the quarter. Simmons Bank’s holdings in Enbridge were worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Brighton Jones LLC acquired a new position in shares of Enbridge in the 4th quarter valued at approximately $261,000. Envestnet Asset Management Inc. raised its position in shares of Enbridge by 8.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,110,659 shares of the pipeline company’s stock valued at $182,095,000 after buying an additional 322,359 shares in the last quarter. Silverlake Wealth Management LLC raised its position in shares of Enbridge by 7.6% in the 1st quarter. Silverlake Wealth Management LLC now owns 15,919 shares of the pipeline company’s stock valued at $705,000 after buying an additional 1,123 shares in the last quarter. Moloney Securities Asset Management LLC raised its position in shares of Enbridge by 8.9% in the 1st quarter. Moloney Securities Asset Management LLC now owns 10,859 shares of the pipeline company’s stock valued at $481,000 after buying an additional 887 shares in the last quarter. Finally, Topsail Wealth Management LLC raised its position in shares of Enbridge by 5.1% in the 1st quarter. Topsail Wealth Management LLC now owns 7,301 shares of the pipeline company’s stock valued at $324,000 after buying an additional 356 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.4%

Enbridge stock opened at $46.59 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The firm’s fifty day moving average is $48.31 and its 200 day moving average is $46.73. The company has a market capitalization of $101.61 billion, a PE ratio of 22.95, a PEG ratio of 4.31 and a beta of 0.76.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on ENB shares. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

About Enbridge

Enbridge Inc, together with its subsidiaries, 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.