Orion Portfolio Solutions LLC Lowers Stake in Enbridge Inc. (NYSE:ENB)

Orion Portfolio Solutions LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 26.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,968 shares of the pipeline company’s stock after selling 15,040 shares during the period. Orion Portfolio Solutions LLC’s holdings in Enbridge were worth $1,562,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ENB. Vanguard Group Inc. boosted its stake in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. Canoe Financial LP boosted its stake in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after purchasing an additional 33,419,164 shares during the period. Wellington Management Group LLP grew its holdings in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Enbridge by 5.1% during the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after buying an additional 1,353,753 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Enbridge in the fourth quarter worth $714,662,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $55.20.

Check Out Our Latest Report on ENB

Enbridge Stock Performance

Shares of NYSE:ENB opened at $36.58 on Friday. The firm has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $35.47. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $77.77 billion, a P/E ratio of 18.57, a PEG ratio of 3.37 and a beta of 0.86.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.40%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

About Enbridge

(Free Report)

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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