Lincluden Management Ltd. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 37.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 888,843 shares of the pipeline company’s stock after selling 537,334 shares during the quarter. Enbridge comprises approximately 3.4% of Lincluden Management Ltd.’s holdings, making the stock its 11th largest position. Lincluden Management Ltd.’s holdings in Enbridge were worth $35,586,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ENB. Isthmus Partners LLC acquired a new stake in shares of Enbridge in the second quarter worth $26,000. Corsicana & Co. acquired a new position in Enbridge during the 2nd quarter valued at $29,000. Harbour Investments Inc. acquired a new position in Enbridge during the 1st quarter valued at $36,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Enbridge during the 2nd quarter valued at $41,000. Finally, Vigilant Capital Management LLC raised its stake in Enbridge by 95.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,172 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 572 shares during the last quarter. Institutional investors and hedge funds own 48.05% of the company’s stock.
Shares of ENB traded up $0.44 during mid-day trading on Monday, hitting $40.47. 88,162 shares of the company’s stock were exchanged, compared to its average volume of 4,223,221. The company has a market cap of $81.98 billion, a PE ratio of 17.25, a P/E/G ratio of 2.98 and a beta of 0.86. Enbridge Inc. has a 52 week low of $26.97 and a 52 week high of $41.13. The company has a 50-day simple moving average of $39.30 and a 200 day simple moving average of $38.78. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.49.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were paid a $0.6645 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.66 annualized dividend and a dividend yield of 6.57%. Enbridge’s dividend payout ratio is presently 147.51%.
ENB has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Enbridge from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Scotiabank boosted their price target on shares of Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, July 8th. The Goldman Sachs Group boosted their price target on shares of Enbridge from C$41.00 to C$43.00 and gave the company a “neutral” rating in a report on Monday, September 13th. Tudor Pickering reissued a “buy” rating and issued a C$52.00 price target on shares of Enbridge in a report on Friday, June 11th. Finally, Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Monday, June 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $52.08.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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