Trust Co. of Virginia VA acquired a new stake in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,146 shares of the pipeline company’s stock, valued at approximately $514,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Command Bank raised its holdings in shares of Enbridge by 96.4% during the first quarter. First Command Bank now owns 601 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new stake in Enbridge during the fourth quarter valued at approximately $30,000. First Command Financial Services Inc. increased its holdings in Enbridge by 153.3% during the fourth quarter. First Command Financial Services Inc. now owns 775 shares of the pipeline company’s stock valued at $30,000 after buying an additional 469 shares during the last quarter. Rise Advisors LLC purchased a new stake in Enbridge during the fourth quarter valued at approximately $32,000. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in Enbridge during the fourth quarter valued at approximately $33,000. 53.23% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ENB opened at $42.66 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. The firm has a fifty day moving average price of $44.05 and a 200 day moving average price of $43.18. Enbridge Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $47.67. The firm has a market cap of $86.41 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.93 and a beta of 0.77.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, May 12th. This represents a $2.68 annualized dividend and a yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is currently 116.16%.
A number of brokerages have commented on ENB. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a report on Wednesday, June 1st. TD Securities upped their target price on shares of Enbridge from C$61.00 to C$62.00 in a report on Monday, May 9th. National Bank Financial increased their price objective on shares of Enbridge from C$57.00 to C$60.00 in a research note on Monday, May 9th. Morgan Stanley increased their price objective on shares of Enbridge from C$60.00 to C$67.00 in a research note on Tuesday, April 26th. Finally, Scotiabank increased their price objective on shares of Enbridge from C$58.00 to C$62.00 in a research note on Tuesday, April 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.42.
Enbridge Profile (Get Rating)
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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