Oxbow Advisors LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,390 shares of the pipeline company’s stock after selling 835 shares during the quarter. Oxbow Advisors LLC’s holdings in Enbridge were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. S.A. Mason LLC purchased a new stake in Enbridge in the fourth quarter worth $28,000. Manchester Financial Inc. bought a new position in Enbridge in the fourth quarter worth $28,000. Strategic Blueprint LLC bought a new position in Enbridge in the third quarter worth $27,000. Tobias Financial Advisors Inc. bought a new position in Enbridge in the fourth quarter worth $33,000. Finally, Bridger Capital Management LLC bought a new position in Enbridge in the third quarter worth $34,000. 53.62% of the stock is owned by institutional investors.
ENB opened at $42.20 on Friday. The stock has a fifty day simple moving average of $40.68 and a two-hundred day simple moving average of $37.07. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.94. The company has a market cap of $85.07 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.61. Enbridge Inc has a 12-month low of $32.23 and a 12-month high of $43.15.
The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.6119 per share. The ex-dividend date is Thursday, February 13th. This is an increase from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.45 annualized dividend and a dividend yield of 5.80%. Enbridge’s dividend payout ratio (DPR) is presently 119.51%.
A number of research firms have issued reports on ENB. Evercore ISI reiterated a “hold” rating and issued a $48.00 price objective on shares of Enbridge in a report on Tuesday, November 12th. Royal Bank of Canada set a $56.00 price objective on Enbridge and gave the stock an “outperform” rating in a report on Saturday, December 21st. Barclays increased their price objective on Enbridge from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. CIBC reiterated a “buy” rating and issued a $56.00 price objective on shares of Enbridge in a report on Wednesday, December 11th. Finally, US Capital Advisors downgraded Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $48.61.
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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