Enbridge Inc (ENB) Shares Bought by Griffin Asset Management Inc.
Griffin Asset Management Inc. boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,819 shares of the pipeline company’s stock after purchasing an additional 7,479 shares during the period. Griffin Asset Management Inc.’s holdings in Enbridge were worth $2,492,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highlander Capital Management LLC grew its holdings in Enbridge by 8.5% during the 2nd quarter. Highlander Capital Management LLC now owns 29,661 shares of the pipeline company’s stock valued at $1,059,000 after buying an additional 2,314 shares during the last quarter. Auxier Asset Management acquired a new stake in Enbridge during the 2nd quarter valued at $206,000. Cozad Asset Management Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $1,893,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Enbridge by 19.3% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 95,759 shares of the pipeline company’s stock valued at $3,421,000 after buying an additional 15,514 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $191,000. 59.05% of the stock is owned by hedge funds and other institutional investors.
ENB stock opened at $34.13 on Friday. Enbridge Inc has a 52-week low of $29.00 and a 52-week high of $42.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.47 and a current ratio of 0.56. The firm has a market cap of $58.60 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.83 and a beta of 0.55.
The firm also recently disclosed a dividend, which was paid on Saturday, September 1st. Stockholders of record on Wednesday, August 15th were issued a dividend of $0.516 per share. This is a boost from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 14th. Enbridge’s dividend payout ratio (DPR) is 132.47%.
A number of brokerages have commented on ENB. ValuEngine upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, June 29th. BMO Capital Markets decreased their price objective on Enbridge from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, June 14th. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $50.00 in a report on Friday, August 17th. CIBC cut Enbridge to a “buy” rating and set a $57.00 price objective on the stock. in a report on Tuesday, May 22nd. Finally, Morgan Stanley raised their price objective on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Hold” and an average target price of $51.40.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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