Enbridge Inc. (NYSE:ENB) Stock Position Raised by Act Two Investors LLC

Act Two Investors LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2,967.8% in the 4th quarter, Holdings Channel reports. The fund owned 222,111 shares of the pipeline company’s stock after buying an additional 214,871 shares during the period. Enbridge makes up approximately 1.7% of Act Two Investors LLC’s investment portfolio, making the stock its 16th biggest holding. Act Two Investors LLC’s holdings in Enbridge were worth $8,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ENB. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $25,000. Baystate Wealth Management LLC lifted its position in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. lifted its position in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group started coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 0.8 %

ENB stock traded up $0.27 during midday trading on Friday, reaching $36.24. The company had a trading volume of 3,053,397 shares, compared to its average volume of 6,709,797. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $38.37. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $77.04 billion, a P/E ratio of 18.40, a PEG ratio of 3.43 and a beta of 0.86. The company has a 50 day moving average of $35.83 and a two-hundred day moving average of $35.39.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.47%. Enbridge’s dividend payout ratio is 136.04%.

Enbridge Profile

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.