Hyman Charles D reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,119 shares of the pipeline company’s stock after selling 2,636 shares during the period. Hyman Charles D’s holdings in Enbridge were worth $5,793,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ING Groep NV purchased a new stake in Enbridge during the 4th quarter valued at $1,271,000. Cypress Wealth Services LLC purchased a new stake in Enbridge during the 4th quarter valued at $542,000. St. James Investment Company LLC raised its stake in Enbridge by 10.2% during the 4th quarter. St. James Investment Company LLC now owns 1,836,892 shares of the pipeline company’s stock valued at $71,841,000 after buying an additional 170,628 shares during the last quarter. Strategic Financial Services Inc raised its stake in Enbridge by 1.9% during the 4th quarter. Strategic Financial Services Inc now owns 88,483 shares of the pipeline company’s stock valued at $3,461,000 after buying an additional 1,636 shares during the last quarter. Finally, QCI Asset Management Inc. NY raised its stake in Enbridge by 35.0% during the 4th quarter. QCI Asset Management Inc. NY now owns 373,654 shares of the pipeline company’s stock valued at $14,614,000 after buying an additional 96,885 shares during the last quarter. Institutional investors own 62.35% of the company’s stock.
ENB has been the subject of a number of research reports. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Morgan Stanley decreased their target price on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Canaccord Genuity reiterated a “buy” rating and set a $54.00 target price on shares of Enbridge in a research note on Thursday, November 30th. Finally, Bank of America began coverage on shares of Enbridge in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.00%. Enbridge’s payout ratio is presently 120.76%.
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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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