SG Americas Securities LLC Acquires New Position in Enbridge Inc (ENB)
SG Americas Securities LLC acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to its most recent disclosure with the SEC. The firm acquired 70,987 shares of the pipeline company’s stock, valued at approximately $3,037,000.
A number of other hedge funds also recently bought and sold shares of ENB. First Personal Financial Services bought a new stake in Enbridge during the first quarter valued at about $102,000. Financial Architects Inc boosted its position in Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares during the period. Kistler Tiffany Companies LLC acquired a new position in Enbridge during the first quarter valued at $109,000. Mascoma Wealth Management LLC acquired a new position in Enbridge during the first quarter valued at $111,000. Finally, North Star Investment Management Corp. boosted its position in Enbridge by 196.7% in the first quarter. North Star Investment Management Corp. now owns 2,670 shares of the pipeline company’s stock valued at $112,000 after buying an additional 1,770 shares during the period. Hedge funds and other institutional investors own 62.93% of the company’s stock.
Enbridge Inc (ENB) opened at 38.02 on Thursday. The stock’s 50 day moving average price is $39.46 and its 200-day moving average price is $41.49. The firm has a market capitalization of $62.31 billion, a price-to-earnings ratio of 42.10 and a beta of 0.61. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were paid a dividend of $0.4435 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Thursday, May 11th. Enbridge’s payout ratio is currently 208.14%.
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Several research firms have weighed in on ENB. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Enbridge in a research note on Friday, March 31st. Credit Suisse Group began coverage on Enbridge in a research note on Tuesday, March 14th. They set an “outperform” rating and a $70.00 target price on the stock. Morgan Stanley began coverage on Enbridge in a research note on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 target price on the stock. Finally, Wolfe Research began coverage on Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Enbridge has a consensus rating of “Buy” and an average target price of $55.22.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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