Harvest Portfolios Group Inc. Has $13.02 Million Stock Holdings in Enbridge Inc $ENB

Harvest Portfolios Group Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,006 shares of the pipeline company’s stock after acquiring an additional 27,961 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Enbridge were worth $13,015,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dagco Inc. acquired a new stake in Enbridge in the first quarter valued at $25,000. Whipplewood Advisors LLC lifted its holdings in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after buying an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge in the first quarter valued at about $30,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Enbridge during the second quarter worth about $36,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8%

NYSE:ENB opened at $46.93 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $102.36 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 4.31 and a beta of 0.76. The firm has a fifty day simple moving average of $48.30 and a two-hundred day simple moving average of $46.73.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 8.0%. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Wall Street Analyst Weigh In

ENB has been the topic of several analyst reports. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently 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.