Massmutual Trust Co. FSB ADV Has $3.38 Million Stock Holdings in Enbridge Inc (NYSE:ENB)
Massmutual Trust Co. FSB ADV lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 93,770 shares of the pipeline company’s stock after purchasing an additional 5,990 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Enbridge were worth $3,383,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ENB. Manchester Financial Inc. acquired a new position in Enbridge during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth approximately $25,000. SRS Capital Advisors Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth approximately $35,000. Cascade Investment Advisors Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth approximately $36,000. Finally, Northern Oak Wealth Management Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 53.82% of the company’s stock.
ENB traded up $0.22 during trading hours on Wednesday, reaching $35.47. The company’s stock had a trading volume of 192,723 shares, compared to its average volume of 3,302,069. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04. The company’s 50-day moving average is $33.73 and its 200-day moving average is $35.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.63. The firm has a market cap of $70.63 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.69 and a beta of 0.57.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.559 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s dividend payout ratio is 107.80%.
A number of equities research analysts have recently issued reports on the company. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective on the stock. in a research note on Thursday, June 13th. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, July 2nd. Finally, Goldman Sachs Group assumed coverage on Enbridge in a research note on Thursday, July 18th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.75.
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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