Metis Global Partners LLC Increases Stock Position in Enbridge Inc $ENB

Metis Global Partners LLC lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,159 shares of the pipeline company’s stock after buying an additional 62,313 shares during the period. Metis Global Partners LLC’s holdings in Enbridge were worth $14,638,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Tsfg LLC grew its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the period. Whipplewood Advisors LLC lifted its stake in shares of Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Highline Wealth Partners LLC lifted its stake in shares of Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Enbridge during the 2nd quarter worth about $29,000. Finally, True Wealth Design LLC grew its holdings in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 500 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $51.85 on Friday. The firm has a fifty day simple moving average of $47.84 and a 200-day simple moving average of $47.89. The company has a market capitalization of $113.12 billion, a PE ratio of 28.49 and a beta of 0.69. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $52.17. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is currently 147.80%.

Analysts Set New Price Targets

ENB has been the topic of several research reports. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada lifted their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average price target of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.