Atlantic Union Bankshares Corp Has $1.91 Million Stock Position in Enbridge Inc $ENB

Atlantic Union Bankshares Corp grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 162.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,165 shares of the pipeline company’s stock after acquiring an additional 26,099 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Enbridge were worth $1,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Convergence Financial LLC raised its stake in Enbridge by 8.1% in the 2nd quarter. Convergence Financial LLC now owns 6,313 shares of the pipeline company’s stock worth $286,000 after purchasing an additional 474 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Enbridge by 41.8% during the second quarter. First Horizon Advisors Inc. now owns 9,225 shares of the pipeline company’s stock worth $418,000 after purchasing an additional 2,720 shares during the period. Genus Capital Management Inc. raised its position in shares of Enbridge by 448.3% in the second quarter. Genus Capital Management Inc. now owns 109,956 shares of the pipeline company’s stock valued at $4,976,000 after buying an additional 89,902 shares in the last quarter. J. W. Coons Advisors LLC raised its position in shares of Enbridge by 3.2% in the second quarter. J. W. Coons Advisors LLC now owns 77,738 shares of the pipeline company’s stock valued at $3,523,000 after buying an additional 2,397 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in shares of Enbridge in the second quarter valued at approximately $202,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Price Performance

ENB stock opened at $47.69 on Friday. The stock has a market cap of $104.00 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $46.75. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 134.98%.

Enbridge Company Profile

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.