Enbridge Inc $ENB Shares Acquired by Private Trust Co. NA

Private Trust Co. NA raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,877 shares of the pipeline company’s stock after acquiring an additional 1,373 shares during the period. Private Trust Co. NA’s holdings in Enbridge were worth $493,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dagco Inc. acquired a new stake in shares of Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge during the first quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.3%

Shares of Enbridge stock opened at $47.07 on Monday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a 50 day moving average of $48.47 and a 200 day moving average of $46.37. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $102.64 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.32 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, August 15th. Enbridge’s payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.50.

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.