Enbridge Inc $ENB Stock Position Boosted by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,191 shares of the pipeline company’s stock after acquiring an additional 1,189 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Enbridge were worth $280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dagco Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $25,000. Whipplewood Advisors LLC boosted its stake in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC bought a new position in Enbridge during the 1st quarter valued at $30,000. Finally, FNY Investment Advisers LLC bought a new position in Enbridge during the 2nd quarter valued at $36,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.4%

NYSE:ENB opened at $46.59 on Thursday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The stock has a fifty day simple moving average of $48.31 and a 200 day simple moving average of $46.73. The firm has a market capitalization of $101.61 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 8.1%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENB shares. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Finally, Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

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.