Enbridge Inc (ENB) Holdings Lifted by Capital Innovations LLC
Capital Innovations LLC boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 142.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,284 shares of the pipeline company’s stock after acquiring an additional 16,630 shares during the period. Enbridge makes up approximately 2.5% of Capital Innovations LLC’s investment portfolio, making the stock its 9th largest holding. Capital Innovations LLC’s holdings in Enbridge were worth $1,106,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Spectrum Management Group Inc. bought a new position in Enbridge during the third quarter worth about $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge during the third quarter worth about $130,000. Valeo Financial Advisors LLC bought a new position in Enbridge during the third quarter worth about $146,000. Field & Main Bank bought a new position in Enbridge during the fourth quarter worth about $149,000. Finally, Patten Group Inc. lifted its holdings in Enbridge by 333.2% during the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock worth $152,000 after acquiring an additional 12,116 shares in the last quarter. Hedge funds and other institutional investors own 62.35% of the company’s stock.
ENB has been the topic of several recent analyst reports. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Bank of America started coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Morgan Stanley cut their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Enbridge presently has an average rating of “Hold” and a consensus target price of $51.25.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.5278 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.21%. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, February 14th. Enbridge’s payout ratio is 123.08%.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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