Parallel Advisors LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,717 shares of the pipeline company’s stock after acquiring an additional 340 shares during the quarter. Parallel Advisors LLC’s holdings in Enbridge were worth $201,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Alberta Investment Management Corp raised its stake in Enbridge by 180.7% during the third quarter. Alberta Investment Management Corp now owns 5,289,155 shares of the pipeline company’s stock worth $185,760,000 after acquiring an additional 3,405,100 shares during the period. Renaissance Technologies LLC grew its position in Enbridge by 288.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,784,001 shares of the pipeline company’s stock worth $136,566,000 after purchasing an additional 2,810,630 shares during the last quarter. Commonwealth Bank of Australia grew its position in Enbridge by 1,462.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,325,341 shares of the pipeline company’s stock worth $84,009,000 after purchasing an additional 2,176,532 shares during the last quarter. National Pension Service bought a new position in Enbridge in the 2nd quarter worth about $98,372,000. Finally, Bank of America Corp DE grew its position in Enbridge by 25.4% in the 2nd quarter. Bank of America Corp DE now owns 7,249,206 shares of the pipeline company’s stock worth $261,551,000 after purchasing an additional 1,466,849 shares during the last quarter. Hedge funds and other institutional investors own 54.21% of the company’s stock.
Shares of Enbridge stock traded up $0.74 on Friday, hitting $37.47. The company had a trading volume of 5,499,096 shares, compared to its average volume of 3,344,608. The business has a 50-day simple moving average of $35.89 and a 200-day simple moving average of $35.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The company has a market cap of $74.72 billion, a PE ratio of 18.28, a PEG ratio of 2.80 and a beta of 0.58. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.561 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.24 annualized dividend and a dividend yield of 5.99%. Enbridge’s dividend payout ratio (DPR) is 107.80%.
Several research firms have commented on ENB. Barclays cut shares of Enbridge from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $52.00 to $51.00 in a research report on Tuesday, October 15th. US Capital Advisors restated an “overweight” rating on shares of Enbridge in a research report on Friday, October 25th. Citigroup upped their target price on shares of Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday. ValuEngine cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, Goldman Sachs Group began coverage on shares of Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Enbridge presently has an average rating of “Hold” and an average target price of $45.68.
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.
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