Mountain Capital Investment Advisors Inc trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,224 shares of the pipeline company’s stock after selling 1,736 shares during the quarter. Mountain Capital Investment Advisors Inc’s holdings in Enbridge were worth $1,038,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockbridge Investment Management LCC purchased a new stake in shares of Enbridge during the second quarter worth approximately $31,000. Provident Wealth Management LLC purchased a new stake in shares of Enbridge during the third quarter worth approximately $45,000. Ropes Wealth Advisors LLC increased its position in shares of Enbridge by 28.7% during the third quarter. Ropes Wealth Advisors LLC now owns 1,640 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 366 shares in the last quarter. Lee Financial Co increased its position in shares of Enbridge by 27.6% during the third quarter. Lee Financial Co now owns 1,895 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 410 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Enbridge by 78.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,083 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 47.68% of the company’s stock.
Shares of Enbridge stock opened at $34.60 on Thursday. Enbridge Inc. has a 52 week low of $22.57 and a 52 week high of $43.15. The business’s fifty day simple moving average is $32.73 and its 200-day simple moving average is $31.06. The firm has a market cap of $70.07 billion, a PE ratio of 48.73, a price-to-earnings-growth ratio of 2.81 and a beta of 0.83. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 12th will be paid a dividend of $0.6523 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $2.61 annualized dividend and a yield of 7.54%. Enbridge’s dividend payout ratio is presently 123.00%.
Several brokerages recently commented on ENB. Royal Bank of Canada dropped their price target on Enbridge from $58.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, November 9th. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. BidaskClub cut Enbridge from a “hold” rating to a “sell” rating in a report on Wednesday, December 23rd. TD Securities dropped their target price on Enbridge from $57.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 9th. Finally, Stifel Nicolaus dropped their target price on Enbridge from $61.00 to $59.00 and set a “buy” rating for the company in a report on Monday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Enbridge has an average rating of “Buy” and an average target price of $52.19.
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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