Argent Trust Co increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,839 shares of the pipeline company’s stock after buying an additional 30,178 shares during the quarter. Argent Trust Co’s holdings in Enbridge were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC grew its stake in Enbridge by 68.6% during the 1st quarter. Lindbrook Capital LLC now owns 713 shares of the pipeline company’s stock worth $26,000 after buying an additional 290 shares during the last quarter. Piscataqua Savings Bank purchased a new position in Enbridge during the 1st quarter worth $32,000. Selective Wealth Management Inc. grew its stake in Enbridge by 133.2% during the 1st quarter. Selective Wealth Management Inc. now owns 884 shares of the pipeline company’s stock worth $32,000 after buying an additional 505 shares during the last quarter. Reby Advisors LLC purchased a new position in Enbridge during the 4th quarter worth $29,000. Finally, Costello Asset Management INC purchased a new position in Enbridge during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 49.04% of the company’s stock.
Shares of Enbridge stock traded down $0.08 during mid-day trading on Friday, reaching $39.67. 120,950 shares of the stock traded hands, compared to its average volume of 4,723,857. The company has a 50-day moving average price of $38.29. Enbridge Inc. has a fifty-two week low of $26.97 and a fifty-two week high of $40.42. The stock has a market capitalization of $80.36 billion, a PE ratio of 16.90, a PEG ratio of 3.02 and a beta of 0.87. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.08.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were issued a dividend of $0.6778 per share. The ex-dividend date was Thursday, May 13th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.83%. This is a boost from Enbridge’s previous quarterly dividend of $0.65. Enbridge’s dividend payout ratio is presently 144.20%.
Several research firms have weighed in on ENB. Stifel Nicolaus dropped their price target on Enbridge from $58.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, February 16th. Argus boosted their price target on Enbridge from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, May 25th. Tudor Pickering reissued a “buy” rating and issued a C$52.00 price objective on shares of Enbridge in a report on Friday. CIBC decreased their price objective on Enbridge from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 16th. Finally, Wells Fargo & Company boosted their price objective on Enbridge from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, May 17th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $51.82.
Enbridge Inc 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.
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