Advisory Research Inc. Buys 35,740 Shares of Enbridge Inc (ENB)
Advisory Research Inc. lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,639,865 shares of the pipeline company’s stock after purchasing an additional 35,740 shares during the period. Enbridge accounts for about 1.1% of Advisory Research Inc.’s portfolio, making the stock its 21st largest holding. Advisory Research Inc.’s holdings in Enbridge were worth $64,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Spectrum Management Group Inc. acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $113,000. Fieldpoint Private Securities LLC acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $130,000. Valeo Financial Advisors LLC acquired a new position in Enbridge in the third quarter valued at approximately $146,000. Field & Main Bank acquired a new position in Enbridge in the fourth quarter valued at approximately $149,000. Finally, Patten Group Inc. lifted its holdings in Enbridge by 333.2% in the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after acquiring an additional 12,116 shares during the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.
ENB has been the topic of a number of recent analyst reports. GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Morgan Stanley decreased their price objective on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Canaccord Genuity reiterated a “buy” rating and issued a $54.00 price objective on shares of Enbridge in a report on Thursday, November 30th. Finally, Bank of America initiated coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.25.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.5278 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 6.03%. Enbridge’s payout ratio is presently 123.08%.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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