WASHINGTON TRUST Co Buys 393 Shares of Enbridge Inc. (NYSE:ENB)

WASHINGTON TRUST Co increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,042 shares of the pipeline company’s stock after purchasing an additional 393 shares during the quarter. WASHINGTON TRUST Co’s holdings in Enbridge were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Adell Harriman & Carpenter Inc. grew its stake in shares of Enbridge by 0.3% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 108,216 shares of the pipeline company’s stock worth $4,592,000 after purchasing an additional 315 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Enbridge by 4.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 5,941 shares of the pipeline company’s stock worth $252,000 after purchasing an additional 267 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Enbridge by 34.4% in the fourth quarter. Blue Trust Inc. now owns 18,458 shares of the pipeline company’s stock worth $783,000 after purchasing an additional 4,722 shares during the last quarter. Autumn Glory Partners LLC bought a new stake in shares of Enbridge in the fourth quarter worth about $281,000. Finally, Asset Planning Inc bought a new stake in shares of Enbridge in the fourth quarter worth about $72,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ENB shares. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

ENB stock opened at $43.13 on Friday. The firm has a 50 day moving average price of $43.33 and a 200-day moving average price of $41.70. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The firm has a market capitalization of $93.95 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. Enbridge’s payout ratio is 121.76%.

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.