Whitener Capital Management Inc. grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 46.1% in the 4th quarter, HoldingsChannel reports. The fund owned 9,349 shares of the pipeline company’s stock after purchasing an additional 2,952 shares during the quarter. Whitener Capital Management Inc.’s holdings in Enbridge were worth $290,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its stake in Enbridge by 58.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. Csenge Advisory Group acquired a new position in Enbridge during the 3rd quarter valued at about $28,000. Rockland Trust Co. acquired a new position in Enbridge during the 4th quarter valued at about $28,000. We Are One Seven LLC acquired a new position in Enbridge during the 4th quarter valued at about $28,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in Enbridge during the 4th quarter valued at about $31,000. 49.65% of the stock is owned by institutional investors.
A number of analysts have commented on ENB shares. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, February 5th. ValuEngine upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. CIBC restated a “buy” rating and set a $57.00 price target on shares of Enbridge in a research report on Tuesday, January 15th. UBS Group downgraded shares of Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Finally, Evercore ISI started coverage on shares of Enbridge in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be issued a $0.555 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.51. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Thursday, February 14th. Enbridge’s payout ratio is presently 131.82%.
In other news, insider Albert Monaco bought 7,569 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the transaction, the insider now directly owns 67,329 shares in the company, valued at approximately $2,950,356.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Byron C. Neiles sold 64,000 shares of Enbridge stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the completion of the transaction, the insider now directly owns 128,665 shares in the company, valued at $5,545,461.50. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
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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