Stratos Wealth Partners LTD. Increases Holdings in Enbridge Inc (ENB)
Stratos Wealth Partners LTD. raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,368 shares of the pipeline company’s stock after acquiring an additional 9,822 shares during the period. Stratos Wealth Partners LTD.’s holdings in Enbridge were worth $981,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Welch Group LLC bought a new stake in Enbridge in the 2nd quarter valued at $109,000. Legacy Advisors LLC bought a new stake in Enbridge in the 3rd quarter valued at $115,000. Spectrum Management Group Inc. bought a new stake in Enbridge in the 2nd quarter valued at $119,000. Centersquare Investment Management LLC increased its holdings in Enbridge by 93.0% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after acquiring an additional 1,740 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Enbridge in the 3rd quarter valued at $137,000. Institutional investors own 58.28% of the company’s stock.
Enbridge stock opened at $32.83 on Friday. Enbridge Inc has a twelve month low of $29.00 and a twelve month high of $41.21. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.47 and a current ratio of 0.59. The stock has a market capitalization of $57.20 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be issued a $0.51 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s dividend payout ratio (DPR) is presently 132.47%.
A number of analysts have recently weighed in on ENB shares. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $50.00 in a report on Friday, August 17th. Citigroup restated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, October 8th. UBS Group started coverage on shares of Enbridge in a report on Thursday, October 4th. They issued a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.17.
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Enbridge Company Profile
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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