Palladium Partners LLC bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,218 shares of the pipeline company’s stock, valued at approximately $204,000.
Several other hedge funds also recently bought and sold shares of the company. Bank of The Ozarks purchased a new stake in shares of Enbridge during the fourth quarter valued at approximately $237,000. Stephens Inc. AR increased its position in shares of Enbridge by 2.6% during the fourth quarter. Stephens Inc. AR now owns 80,502 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 2,016 shares during the last quarter. Calton & Associates Inc. purchased a new stake in shares of Enbridge during the fourth quarter valued at approximately $877,000. Sandy Spring Bank increased its position in shares of Enbridge by 7.6% during the fourth quarter. Sandy Spring Bank now owns 84,194 shares of the pipeline company’s stock valued at $3,293,000 after acquiring an additional 5,930 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Enbridge by 11.5% during the fourth quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock valued at $862,620,000 after acquiring an additional 2,260,733 shares during the last quarter. Institutional investors own 62.62% of the company’s stock.
A number of analysts recently commented on the company. Morgan Stanley decreased their price target on Enbridge from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Canaccord Genuity reissued a “buy” rating and issued a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. Bank of America began coverage on Enbridge in a research report on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.25.
Enbridge Inc (ENB) traded down $0.21 during trading hours on Wednesday, reaching $34.29. The company’s stock had a trading volume of 3,453,442 shares, compared to its average volume of 2,914,787. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Enbridge Inc has a twelve month low of $33.26 and a twelve month high of $43.24. The stock has a market capitalization of $58,250.00, a P/E ratio of 22.16, a P/E/G ratio of 3.15 and a beta of 0.56.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a $0.5278 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 annualized dividend and a dividend yield of 6.16%. Enbridge’s payout ratio is 123.87%.
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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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