Advisors Asset Management Inc. Purchases 22,909 Shares of Enbridge Inc $ENB

Advisors Asset Management Inc. grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 214,920 shares of the pipeline company’s stock after buying an additional 22,909 shares during the period. Advisors Asset Management Inc.’s holdings in Enbridge were worth $10,845,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its position in Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after acquiring an additional 1,044,093 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of Enbridge by 25.3% during the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after buying an additional 10,488 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Enbridge by 37.7% during the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after buying an additional 19,655 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Enbridge by 0.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after buying an additional 32,268 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Enbridge by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after acquiring an additional 221,976 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENB shares. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 16th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Enbridge Trading Up 0.9%

ENB stock opened at $51.54 on Thursday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $51.84. The company has a market capitalization of $112.45 billion, a PE ratio of 28.32 and a beta of 0.69. The company’s 50-day simple moving average is $47.77 and its 200 day simple moving average is $47.86. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Tuesday, February 17th. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.