Welch & Forbes LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,168 shares of the pipeline company’s stock after purchasing an additional 337 shares during the quarter. Welch & Forbes LLC’s holdings in Enbridge were worth $604,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ENB. Isthmus Partners LLC acquired a new stake in Enbridge during the second quarter worth $26,000. Mascoma Wealth Management LLC acquired a new stake in Enbridge during the third quarter worth $26,000. Corsicana & Co. acquired a new stake in Enbridge during the second quarter worth $29,000. BDO Wealth Advisors LLC increased its stake in Enbridge by 222.4% during the second quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 547 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Enbridge in the second quarter valued at $41,000. 47.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ENB opened at $39.90 on Thursday. The company has a market capitalization of $80.84 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.94 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.55 and a quick ratio of 0.46. The business has a 50-day moving average of $41.15 and a two-hundred day moving average of $40.02. Enbridge Inc. has a 1 year low of $31.11 and a 1 year high of $43.35.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 15th will be issued a $0.674 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 6.76%. The ex-dividend date is Friday, November 12th. Enbridge’s payout ratio is presently 120.27%.
A number of equities research analysts have recently weighed in on ENB shares. Credit Suisse Group cut Enbridge from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Monday, October 25th. National Bank Financial lifted their price objective on Enbridge from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. TD Securities lifted their price objective on Enbridge from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Monday, November 8th. CIBC lifted their price objective on Enbridge from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Finally, Tudor Pickering reaffirmed a “buy” rating and issued a C$54.00 price objective on shares of Enbridge in a research note on Friday, November 5th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $53.07.
Enbridge Company Profile
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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