Hexavest Inc. lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 77.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 655,360 shares of the pipeline company’s stock after purchasing an additional 285,331 shares during the period. Hexavest Inc.’s holdings in Enbridge were worth $25,713,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spectrum Management Group Inc. acquired a new position in shares of Enbridge during the third quarter valued at approximately $113,000. Fieldpoint Private Securities LLC acquired a new position in shares of Enbridge during the third quarter valued at approximately $130,000. Valeo Financial Advisors LLC acquired a new position in shares of Enbridge during the third quarter valued at approximately $146,000. Patten Group Inc. increased its stake in shares of Enbridge by 333.2% during the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after acquiring an additional 12,116 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Enbridge during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 62.14% of the company’s stock.
Enbridge Inc (NYSE:ENB) opened at $39.74 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. The stock has a market cap of $65,302.61, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64. Enbridge Inc has a 12-month low of $34.39 and a 12-month high of $44.51.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.5278 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 annualized dividend and a yield of 5.31%. Enbridge’s payout ratio is 120.76%.
A number of research analysts recently commented on ENB shares. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Morgan Stanley lowered their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Canaccord Genuity reiterated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Finally, Bank of America started coverage on shares of Enbridge in a research note on Tuesday. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.00.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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