Hudson Valley Investment Advisors Inc. ADV decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,993 shares of the pipeline company’s stock after selling 515 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Enbridge were worth $1,824,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ENB. Asset Dedication LLC increased its position in shares of Enbridge by 22.2% in the third quarter. Asset Dedication LLC now owns 1,623 shares of the pipeline company’s stock valued at $56,000 after buying an additional 295 shares in the last quarter. Lcnb Corp increased its position in shares of Enbridge by 1.0% during the second quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock worth $1,083,000 after purchasing an additional 308 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Enbridge by 2.8% during the third quarter. First Citizens Bank & Trust Co. now owns 11,766 shares of the pipeline company’s stock worth $413,000 after purchasing an additional 316 shares in the last quarter. Security National Trust Co. increased its position in shares of Enbridge by 18.7% during the second quarter. Security National Trust Co. now owns 2,102 shares of the pipeline company’s stock worth $76,000 after purchasing an additional 331 shares in the last quarter. Finally, Kempen Capital Management N.V. increased its position in shares of Enbridge by 30.9% during the second quarter. Kempen Capital Management N.V. now owns 1,450 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 342 shares in the last quarter. 54.21% of the stock is owned by hedge funds and other institutional investors.
NYSE ENB traded up $0.74 during trading hours on Friday, hitting $37.47. 5,499,096 shares of the company were exchanged, compared to its average volume of 3,344,608. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $38.04. The firm has a market cap of $74.72 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.80 and a beta of 0.58. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $35.89 and a two-hundred day moving average of $35.48.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.561 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.24 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Thursday, November 14th. Enbridge’s dividend payout ratio (DPR) is currently 107.80%.
Several analysts recently commented on ENB shares. CIBC dropped their price target on Enbridge from $57.00 to $56.00 in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on Enbridge from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Goldman Sachs Group began coverage on Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating on the stock. Finally, US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.68.
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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