Commerce Bank grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,506 shares of the pipeline company’s stock after purchasing an additional 4,564 shares during the period. Commerce Bank’s holdings in Enbridge were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of ENB. Capital Investment Advisors LLC acquired a new position in shares of Enbridge in the second quarter valued at $217,000. Gofen & Glossberg LLC IL acquired a new position in shares of Enbridge in the second quarter valued at $630,000. First Citizens Bank & Trust Co. acquired a new position in shares of Enbridge in the second quarter valued at $473,000. NN Investment Partners Holdings N.V. increased its holdings in shares of Enbridge by 28.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 24,396 shares of the pipeline company’s stock valued at $870,000 after purchasing an additional 5,386 shares during the last quarter. Finally, Nexus Investment Management Inc. increased its holdings in shares of Enbridge by 2.4% in the second quarter. Nexus Investment Management Inc. now owns 393,188 shares of the pipeline company’s stock valued at $14,059,000 after purchasing an additional 9,300 shares during the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.
NYSE:ENB opened at $32.83 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.47 and a current ratio of 0.59. Enbridge Inc has a one year low of $29.00 and a one year high of $41.21. The firm has a market capitalization of $57.20 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.37 and a beta of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.04 annualized dividend and a dividend yield of 6.21%. Enbridge’s dividend payout ratio (DPR) is presently 132.47%.
Several equities analysts have commented on ENB shares. ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Morgan Stanley upped their price objective on shares of Enbridge from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, July 13th. Citigroup reiterated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Wells Fargo & Co upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Enbridge currently has an average rating of “Buy” and an average target price of $49.17.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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