Toroso Investments LLC grew its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,878 shares of the pipeline company’s stock after buying an additional 408 shares during the quarter. Toroso Investments LLC’s holdings in Enbridge were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Enbridge by 6.9% in the 1st quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock valued at $2,262,000 after buying an additional 3,178 shares during the period. BlackRock Inc. raised its stake in Enbridge by 47.5% in the first quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock valued at $73,081,000 after buying an additional 510,865 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Enbridge by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock worth $75,955,000 after buying an additional 112,553 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Enbridge by 3.4% during the 1st quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock worth $6,897,000 after acquiring an additional 4,883 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Enbridge by 0.3% in the 1st quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock valued at $14,600,000 after acquiring an additional 968 shares during the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.
Enbridge Stock Performance
Shares of NYSE ENB opened at $35.03 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. The company has a market cap of $74.45 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. The company has a 50-day simple moving average of $35.65 and a 200-day simple moving average of $37.11. Enbridge Inc. has a 12 month low of $32.90 and a 12 month high of $42.12.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date was Monday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 187.86%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ENB. StockNews.com initiated coverage on shares of Enbridge in a report on Thursday, August 17th. They set a “hold” rating on the stock. National Bank Financial assumed coverage on Enbridge in a report on Monday, September 11th. They issued a “sector perform” rating for the company. Scotiabank started coverage on Enbridge in a research note on Monday, September 11th. They issued a “sector perform” rating for the company. Royal Bank of Canada reduced their price target on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, August 7th. Finally, CIBC raised their price target on Enbridge from $63.00 to $64.00 and gave the stock an “outperformer” rating in a report on Monday, September 11th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.57.
Enbridge Inc, together with its subsidiaries, 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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