Nicholas Hoffman & Company LLC. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,941 shares of the pipeline company’s stock after purchasing an additional 494 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Enbridge were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Corsicana & Co. bought a new position in Enbridge during the 2nd quarter worth approximately $29,000. Harbour Investments Inc. bought a new position in Enbridge during the 1st quarter worth approximately $36,000. Moisand Fitzgerald Tamayo LLC bought a new position in Enbridge during the 2nd quarter worth approximately $41,000. Vigilant Capital Management LLC lifted its holdings in Enbridge by 95.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,172 shares of the pipeline company’s stock worth $47,000 after buying an additional 572 shares during the last quarter. Finally, Pflug Koory LLC bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 48.05% of the company’s stock.
Shares of NYSE ENB opened at $39.80 on Wednesday. Enbridge Inc. has a twelve month low of $26.97 and a twelve month high of $41.13. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average of $39.31 and a two-hundred day moving average of $38.53. The company has a market capitalization of $80.62 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.98 and a beta of 0.86.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were issued a $0.6645 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date was Thursday, August 12th. Enbridge’s payout ratio is 147.51%.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Monday, June 14th. BMO Capital Markets raised their price target on Enbridge from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a report on Wednesday, September 8th. CIBC raised their price target on Enbridge from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a report on Wednesday, September 8th. Royal Bank of Canada raised their price target on Enbridge from C$56.00 to C$57.00 and gave the stock an “outperform” rating in a report on Wednesday, September 8th. Finally, Wells Fargo & Company raised their target price on Enbridge from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Buy” and an average price target of $52.08.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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