MainStreet Investment Advisors LLC lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 97,168 shares of the pipeline company’s stock after selling 8,904 shares during the period. MainStreet Investment Advisors LLC’s holdings in Enbridge were worth $3,108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Johnson Midwest Financial LLC bought a new stake in shares of Enbridge during the fourth quarter worth $27,000. McCarthy Asset Management Inc. bought a new stake in shares of Enbridge in the fourth quarter worth $27,000. Costello Asset Management INC bought a new stake in shares of Enbridge in the fourth quarter worth $31,000. Pflug Koory LLC grew its stake in shares of Enbridge by 191.4% in the fourth quarter. Pflug Koory LLC now owns 1,218 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 800 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Enbridge in the fourth quarter worth $44,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ENB traded up $0.24 on Tuesday, reaching $35.30. The company’s stock had a trading volume of 223,134 shares, compared to its average volume of 5,403,664. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.04. Enbridge Inc. has a twelve month low of $22.57 and a twelve month high of $41.16. The stock has a market capitalization of $71.50 billion, a PE ratio of 49.39, a PEG ratio of 2.48 and a beta of 0.82. The firm has a fifty day moving average of $34.48 and a 200-day moving average of $31.83.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 12th will be given a $0.6523 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 7.39%. This is an increase from Enbridge’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, February 11th. Enbridge’s dividend payout ratio is presently 130.50%.
Several analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Enbridge from $58.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, November 9th. Credit Suisse Group boosted their price objective on shares of Enbridge from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, January 29th. CIBC dropped their target price on shares of Enbridge from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 16th. National Bank Financial restated an “outperform” rating on shares of Enbridge in a report on Wednesday, January 27th. Finally, TD Securities boosted their target price on shares of Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, February 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $52.19.
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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