Metis Global Partners LLC Boosts Holdings in Enbridge Inc $ENB

Metis Global Partners LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 227,846 shares of the pipeline company’s stock after acquiring an additional 34,424 shares during the period. Metis Global Partners LLC’s holdings in Enbridge were worth $10,332,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedbush Securities Inc. boosted its stake in shares of Enbridge by 3.4% in the second quarter. Wedbush Securities Inc. now owns 36,549 shares of the pipeline company’s stock worth $1,656,000 after buying an additional 1,186 shares during the last quarter. Harvest Portfolios Group Inc. lifted its holdings in Enbridge by 10.8% in the second quarter. Harvest Portfolios Group Inc. now owns 287,006 shares of the pipeline company’s stock valued at $13,015,000 after acquiring an additional 27,961 shares during the period. Savant Capital LLC lifted its holdings in Enbridge by 14.3% in the second quarter. Savant Capital LLC now owns 32,208 shares of the pipeline company’s stock valued at $1,460,000 after acquiring an additional 4,024 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in Enbridge by 5.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,098,857 shares of the pipeline company’s stock worth $140,440,000 after purchasing an additional 161,377 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Enbridge by 85.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 4,517 shares of the pipeline company’s stock worth $205,000 after purchasing an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $47.69 on Friday. The stock has a market capitalization 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. The company’s fifty day moving average price is $48.28 and its 200 day moving average price is $46.75. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge Increases Dividend

The business 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 is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s dividend payout ratio is presently 134.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENB shares. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Company 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.