Swiss National Bank boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,153,094 shares of the pipeline company’s stock after purchasing an additional 137,500 shares during the period. Swiss National Bank owned about 0.36% of Enbridge worth $219,295,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Koch Industries Inc. boosted its position in Enbridge by 185.5% in the first quarter. Koch Industries Inc. now owns 45,795 shares of the pipeline company’s stock worth $1,441,000 after purchasing an additional 29,757 shares during the last quarter. Home Federal Bank of Tennessee purchased a new position in Enbridge in the second quarter worth $2,244,000. Heronetta Management L.P. raised its stake in shares of Enbridge by 13.7% in the first quarter. Heronetta Management L.P. now owns 124,500 shares of the pipeline company’s stock valued at $5,045,000 after buying an additional 15,000 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Enbridge by 63.3% in the first quarter. Hillsdale Investment Management Inc. now owns 274,330 shares of the pipeline company’s stock valued at $8,626,000 after buying an additional 106,300 shares during the period. Finally, Creative Planning raised its stake in shares of Enbridge by 2.9% in the second quarter. Creative Planning now owns 100,612 shares of the pipeline company’s stock valued at $3,591,000 after buying an additional 2,805 shares during the period. 59.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ENB traded up $0.04 during midday trading on Tuesday, reaching $36.26. 27,133 shares of the company traded hands, compared to its average volume of 2,608,463. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.47 and a current ratio of 0.56. Enbridge Inc has a 12 month low of $29.00 and a 12 month high of $42.10. The firm has a market cap of $61.81 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.94 and a beta of 0.61.
The business also recently disclosed a dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be paid a dividend of $0.516 per share. This is a positive change 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 analysts have issued reports on the company. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. CIBC lowered Enbridge to a “buy” rating and set a $57.00 target price on the stock. in a research note on Tuesday, May 22nd. BMO Capital Markets lowered their target price on Enbridge from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, June 14th. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $50.00 in a research note on Friday. Finally, Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.40.
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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