BB&T Securities LLC cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,250,753 shares of the pipeline company’s stock after selling 44,830 shares during the quarter. BB&T Securities LLC owned about 0.06% of Enbridge worth $38,873,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Capital International Investors raised its position in Enbridge by 74.4% in the third quarter. Capital International Investors now owns 101,014,233 shares of the pipeline company’s stock valued at $3,260,806,000 after purchasing an additional 43,094,629 shares during the period. Vanguard Group Inc raised its position in Enbridge by 2.5% in the third quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock valued at $1,570,144,000 after purchasing an additional 1,184,467 shares during the period. TD Asset Management Inc. raised its position in Enbridge by 4.1% in the fourth quarter. TD Asset Management Inc. now owns 44,948,053 shares of the pipeline company’s stock valued at $1,395,700,000 after purchasing an additional 1,777,466 shares during the period. Jarislowsky Fraser Ltd raised its position in Enbridge by 0.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock valued at $764,101,000 after purchasing an additional 131,550 shares during the period. Finally, FIL Ltd raised its position in Enbridge by 21.5% in the third quarter. FIL Ltd now owns 18,581,538 shares of the pipeline company’s stock valued at $599,604,000 after purchasing an additional 3,285,628 shares during the period. 49.36% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, December 31st. CIBC reaffirmed a “buy” rating and set a $57.00 target price on shares of Enbridge in a research report on Tuesday, January 15th. Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, November 5th. Wolfe Research raised Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. Finally, UBS Group lowered Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Enbridge has a consensus rating of “Buy” and a consensus target price of $48.80.
In related news, insider Byron C. Neiles sold 64,000 shares of Enbridge stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $43.10, for a total value of $2,758,400.00. Following the completion of the transaction, the insider now directly owns 128,665 shares in the company, valued at $5,545,461.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Albert Monaco purchased 7,569 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was purchased at an average price of $43.82 per share, with a total value of $331,673.58. Following the completion of the purchase, the insider now directly owns 67,329 shares of the company’s stock, valued at approximately $2,950,356.78. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by insiders.
Shares of NYSE ENB opened at $36.10 on Friday. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $37.69. The stock has a market cap of $74.92 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.15%. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, February 14th. Enbridge’s payout ratio is presently 131.82%.
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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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