Sunbelt Securities Inc. purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,282 shares of the pipeline company’s stock, valued at approximately $296,000.

A number of other institutional investors have also bought and sold shares of ENB. Accurate Investment Solutions Inc. acquired a new position in Enbridge in the second quarter worth approximately $106,000. Welch Group LLC acquired a new position in Enbridge in the second quarter worth approximately $109,000. Private Capital Group LLC grew its position in Enbridge by 2,241.9% in the first quarter. Private Capital Group LLC now owns 3,630 shares of the pipeline company’s stock worth $114,000 after buying an additional 3,475 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in Enbridge in the second quarter worth approximately $119,000. Finally, Washington Trust Bank grew its position in Enbridge by 60.2% in the second quarter. Washington Trust Bank now owns 3,991 shares of the pipeline company’s stock worth $142,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.

NYSE ENB opened at $35.87 on Monday. Enbridge Inc has a twelve month low of $29.00 and a twelve month high of $42.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.47 and a current ratio of 0.56. The company has a market cap of $61.55 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.01 and a beta of 0.61.

The company also recently disclosed a dividend, which will be paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.516 per share. This is a boost from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 14th. Enbridge’s payout ratio is presently 133.77%.

Several research firms have weighed in on ENB. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $50.00 in a research report on Friday. ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Morgan Stanley lifted their price objective on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. BMO Capital Markets lowered their price objective on shares of Enbridge from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, June 14th. Finally, CIBC cut shares of Enbridge to a “buy” rating and set a $57.00 price objective on the stock. in a research report on Tuesday, May 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.40.

About Enbridge

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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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