First Horizon Advisors Inc. Buys 2,720 Shares of Enbridge Inc $ENB

First Horizon Advisors Inc. boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 41.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,225 shares of the pipeline company’s stock after purchasing an additional 2,720 shares during the period. First Horizon Advisors Inc.’s holdings in Enbridge were worth $418,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares in the last quarter. Nuveen LLC bought a new position in shares of Enbridge in the first quarter valued at $208,490,000. Canada Pension Plan Investment Board increased its holdings in Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after buying an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd bought a new stake in Enbridge during the first quarter worth $77,976,000. Finally, JPMorgan Chase & Co. raised its position in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after acquiring an additional 1,680,116 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENB shares. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Stock Up 1.7%

Enbridge stock opened at $47.69 on Friday. The company’s 50-day moving average price is $48.28 and its two-hundred day moving average price is $46.75. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a market cap of $104.00 billion, a P/E ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio is 134.98%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.