Enbridge Inc (ENB) Position Lifted by Nexus Investment Management Inc.
Nexus Investment Management Inc. increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 34.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 556,008 shares of the pipeline company’s stock after acquiring an additional 143,620 shares during the quarter. Enbridge makes up 3.0% of Nexus Investment Management Inc.’s portfolio, making the stock its 15th biggest position. Nexus Investment Management Inc.’s holdings in Enbridge were worth $17,277,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in ENB. Dimensional Fund Advisors LP raised its stake in Enbridge by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 910,407 shares of the pipeline company’s stock valued at $32,470,000 after buying an additional 126,323 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $554,000. Natixis raised its position in shares of Enbridge by 137.2% during the 2nd quarter. Natixis now owns 25,513 shares of the pipeline company’s stock worth $911,000 after purchasing an additional 14,756 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Enbridge by 12,357.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,184 shares of the pipeline company’s stock worth $686,000 after purchasing an additional 19,030 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $191,000. Institutional investors and hedge funds own 49.11% of the company’s stock.
ENB stock traded up $0.24 on Monday, reaching $34.78. The company’s stock had a trading volume of 2,057,433 shares, compared to its average volume of 4,856,605. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $40.07. The firm has a market capitalization of $69.71 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 2.03 and a beta of 0.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 6.38%. 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 dividend payout ratio is 131.82%.
ENB has been the topic of a number of research reports. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, October 8th. UBS Group initiated coverage on Enbridge in a research report on Thursday, October 4th. They set a “buy” rating on the stock. Citigroup reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Wells Fargo & Co upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, November 5th. Finally, Wolfe Research upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Enbridge presently has an average rating of “Hold” and a consensus price target of $48.20.
In other Enbridge news, insider Byron C. Neiles sold 64,000 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the completion of the transaction, the insider now directly owns 128,665 shares of the company’s stock, valued at approximately $5,545,461.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Albert Monaco purchased 7,569 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were purchased at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the purchase, the insider now owns 67,329 shares in the company, valued at approximately $2,950,356.78. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
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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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