Independent Advisor Alliance grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,941 shares of the pipeline company’s stock after buying an additional 12,748 shares during the period. Independent Advisor Alliance’s holdings in Enbridge were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Accurate Investment Solutions Inc. bought a new stake in Enbridge during the second quarter worth approximately $106,000. Welch Group LLC bought a new stake in Enbridge during the second quarter worth approximately $109,000. Private Capital Group LLC raised its holdings in Enbridge by 2,241.9% during the first quarter. Private Capital Group LLC now owns 3,630 shares of the pipeline company’s stock worth $114,000 after purchasing an additional 3,475 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in Enbridge during the second quarter worth approximately $119,000. Finally, Washington Trust Bank raised its holdings in Enbridge by 60.2% during the second quarter. Washington Trust Bank now owns 3,991 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 1,500 shares in the last quarter. 60.17% of the stock is currently owned by institutional investors.
Shares of NYSE:ENB opened at $36.03 on Monday. Enbridge Inc has a 12 month low of $29.00 and a 12 month high of $42.10. The company has a market cap of $61.55 billion, a P/E ratio of 23.40, a PEG ratio of 2.01 and a beta of 0.61. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 0.99.
The company also recently announced a dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be issued a dividend of $0.516 per share. This is a boost from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 14th. Enbridge’s payout ratio is presently 133.77%.
Several equities research analysts recently commented on the company. Bank of America raised Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $50.00 in a report on Friday. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Morgan Stanley boosted their target price on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. BMO Capital Markets dropped their target price on Enbridge from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, June 14th. Finally, CIBC cut Enbridge to a “buy” rating and set a $57.00 target price on the stock. in a report on Tuesday, May 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Hold” and a consensus target price of $51.40.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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