Enbridge Inc. (NYSE:ENB) Shares Acquired by Private Trust Co. NA

Private Trust Co. NA lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,415 shares of the pipeline company’s stock after purchasing an additional 488 shares during the quarter. Private Trust Co. NA’s holdings in Enbridge were worth $399,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge during the fourth quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge during the third quarter worth $37,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Enbridge in the 4th quarter worth $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 2.4 %

Shares of ENB opened at $42.73 on Monday. The stock’s fifty day simple moving average is $43.42 and its 200 day simple moving average is $42.01. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The firm has a market capitalization of $93.11 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.27%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.00.

About Enbridge

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.