Laurel Wealth Advisors LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 52,077 shares of the pipeline company’s stock after selling 5,178 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Enbridge were worth $1,880,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Salient Capital Advisors LLC boosted its stake in shares of Enbridge by 152.6% in the 1st quarter. Salient Capital Advisors LLC now owns 10,377,798 shares of the pipeline company’s stock valued at $369,715,000 after buying an additional 6,269,108 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Enbridge in the 1st quarter valued at about $225,056,000. Toronto Dominion Bank boosted its stake in shares of Enbridge by 48.1% in the 1st quarter. Toronto Dominion Bank now owns 12,809,209 shares of the pipeline company’s stock valued at $463,864,000 after buying an additional 4,162,457 shares during the period. GQG Partners LLC purchased a new position in shares of Enbridge in the 1st quarter valued at about $63,341,000. Finally, TD Asset Management Inc. boosted its stake in shares of Enbridge by 3.7% in the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock valued at $1,688,151,000 after buying an additional 1,648,741 shares during the period. Institutional investors and hedge funds own 55.68% of the company’s stock.
Shares of NYSE ENB traded up $0.09 during midday trading on Tuesday, hitting $32.98. 1,048,023 shares of the company’s stock were exchanged, compared to its average volume of 3,340,376. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $38.04. The company has a market cap of $66.67 billion, a PE ratio of 16.09, a P/E/G ratio of 2.56 and a beta of 0.59. The firm’s fifty day simple moving average is $34.36 and its 200-day simple moving average is $35.94.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.559 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s dividend payout ratio (DPR) is 107.80%.
In other Enbridge news, insider Albert Monaco bought 7,848 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $49.81 per share, with a total value of $390,908.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the company. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective for the company. in a research note on Thursday, June 13th. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Tuesday, July 2nd. Finally, Goldman Sachs Group assumed coverage on Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.75.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.
Featured Story: How does inflation affect different investments?
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.