Fort Washington Investment Advisors Inc. OH purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, Holdings Channel reports. The fund purchased 20,107 shares of the pipeline company’s stock, valued at approximately $841,000.
Other hedge funds have also modified their holdings of the company. First Financial Bank N.A. Trust Division acquired a new stake in shares of Enbridge during the first quarter valued at about $332,000. Park National Corp OH acquired a new stake in shares of Enbridge during the first quarter valued at about $1,600,000. Beacon Financial Group acquired a new stake in shares of Enbridge during the first quarter valued at about $9,812,000. HighPoint Advisor Group LLC acquired a new stake in shares of Enbridge during the fourth quarter valued at about $337,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Enbridge by 10.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,255,150 shares of the pipeline company’s stock valued at $95,012,000 after buying an additional 209,411 shares in the last quarter. 62.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enbridge Inc (ENB) opened at 39.35 on Monday. The stock has a market capitalization of $64.49 billion, a price-to-earnings ratio of 43.24 and a beta of 0.61. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77. The company’s 50 day moving average is $39.46 and its 200-day moving average is $41.49.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were given a dividend of $0.4435 per share. The ex-dividend date was Thursday, May 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 annualized dividend and a yield of 4.51%. Enbridge’s payout ratio is 208.14%.
Several brokerages have recently issued reports on ENB. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wells Fargo & Company reissued a “market perform” rating on shares of Enbridge in a research report on Friday, March 31st. Credit Suisse Group began coverage on shares of Enbridge in a research report on Tuesday, March 14th. They set an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley began coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.22.
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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