Boston Private Wealth LLC Acquires 59,765 Shares of Enbridge Inc (ENB)
Boston Private Wealth LLC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 95.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 122,626 shares of the pipeline company’s stock after buying an additional 59,765 shares during the period. Boston Private Wealth LLC’s holdings in Enbridge were worth $5,131,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ENB. Hyman Charles D purchased a new stake in shares of Enbridge during the first quarter worth $6,524,000. AXA boosted its stake in shares of Enbridge by 18.7% in the first quarter. AXA now owns 249,697 shares of the pipeline company’s stock worth $10,448,000 after buying an additional 39,372 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter worth $1,291,000. Asset Management One Co. Ltd. purchased a new stake in shares of Enbridge during the first quarter worth $3,410,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Enbridge during the first quarter worth $2,905,000. 62.93% of the stock is owned by institutional investors.
Shares of Enbridge Inc (NYSE:ENB) opened at 39.59 on Tuesday. The company has a 50-day moving average price of $39.46 and a 200 day moving average price of $41.49. The firm has a market capitalization of $64.88 billion, a P/E ratio of 43.51 and a beta of 0.61. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were given a $0.4435 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 dividend on an annualized basis and a yield of 4.48%. Enbridge’s payout ratio is 208.14%.
ENB has been the subject of a number of research reports. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Morgan Stanley began coverage on Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price for the company. Wolfe Research began coverage on Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Credit Suisse Group initiated coverage on Enbridge in a report on Tuesday, March 14th. They set an “outperform” rating and a $70.00 price target for the company. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.22.
Enbridge Company Profile
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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