VeraBank N.A. Buys Shares of 26,203 Enbridge Inc $ENB

VeraBank N.A. bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,203 shares of the pipeline company’s stock, valued at approximately $1,188,000.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after acquiring an additional 221 shares in the last quarter. Loudon Investment Management LLC grew its holdings in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after purchasing an additional 240 shares during the last quarter. Key Client Fiduciary Advisors LLC increased its position in shares of Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after purchasing an additional 242 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in shares of Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 243 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of Enbridge by 0.6% in the 2nd quarter. CENTRAL TRUST Co now owns 44,999 shares of the pipeline company’s stock worth $2,039,000 after purchasing an additional 248 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB stock opened at $47.90 on Tuesday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. 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 stock has a market cap of $104.47 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The business has a fifty day moving average of $48.27 and a two-hundred day moving average of $46.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 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 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter last year, the firm posted $0.55 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is currently 132.02%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ENB shares. Royal Bank Of Canada upped their target price on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

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.