Enbridge Inc (ENB) Position Reduced by Argent Trust Co
Argent Trust Co decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,147 shares of the pipeline company’s stock after selling 2,083 shares during the period. Argent Trust Co’s holdings in Enbridge were worth $1,076,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ENB. Wells Fargo & Company MN boosted its stake in Enbridge by 8.7% in the 1st quarter. Wells Fargo & Company MN now owns 2,538,686 shares of the pipeline company’s stock worth $79,893,000 after purchasing an additional 204,000 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Enbridge by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 181,782 shares of the pipeline company’s stock worth $5,721,000 after purchasing an additional 3,075 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Enbridge in the 1st quarter worth approximately $482,000. Federated Investors Inc. PA boosted its stake in Enbridge by 13.2% in the 1st quarter. Federated Investors Inc. PA now owns 234,379 shares of the pipeline company’s stock worth $7,376,000 after purchasing an additional 27,258 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Enbridge by 11.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 93,099 shares of the pipeline company’s stock worth $2,926,000 after purchasing an additional 9,908 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.
ENB stock opened at $34.53 on Wednesday. Enbridge Inc has a 12-month low of $29.00 and a 12-month high of $42.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.56 and a quick ratio of 0.47. The company has a market capitalization of $58.14 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.81 and a beta of 0.55.
The business also recently announced a dividend, which was paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th were given a $0.516 dividend. This is an increase from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 14th. Enbridge’s dividend payout ratio is presently 132.47%.
A number of equities analysts recently commented on the stock. Bank of America raised shares of 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 research note on Friday, August 17th. ValuEngine lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Morgan Stanley raised their price objective on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. BMO Capital Markets decreased their price objective on shares of Enbridge from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, June 14th. Finally, CIBC lowered shares of Enbridge to a “buy” rating and set a $57.00 price objective for the company. in a research note on Tuesday, May 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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