Lee Financial Co Buys 3,335 Shares of Enbridge Inc. (NYSE:ENB)

Lee Financial Co lifted its stake in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,690 shares of the pipeline company’s stock after purchasing an additional 3,335 shares during the period. Lee Financial Co’s holdings in Enbridge were worth $997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares during the period. S.E.E.D. Planning Group LLC lifted its position in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after buying an additional 102,850 shares during the last quarter. Clarius Group LLC lifted its position in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

NYSE:ENB traded down $0.01 during midday trading on Friday, hitting $36.75. The company’s stock had a trading volume of 7,893,846 shares, compared to its average volume of 7,795,651. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The firm’s 50 day moving average is $35.77 and its 200-day moving average is $35.26. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.74. The firm has a market cap of $78.13 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.47 and a beta of 0.86.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is 135.53%.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on Enbridge

Enbridge Profile

(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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