Bank & Trust Co Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Bank & Trust Co boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,806 shares of the pipeline company’s stock after purchasing an additional 2,475 shares during the quarter. Bank & Trust Co’s holdings in Enbridge were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ENB. Chickasaw Capital Management LLC lifted its holdings in shares of Enbridge by 1.7% during the 1st quarter. Chickasaw Capital Management LLC now owns 169,884 shares of the pipeline company’s stock worth $7,528,000 after acquiring an additional 2,820 shares during the period. Capital Asset Advisory Services LLC acquired a new position in Enbridge during the first quarter worth approximately $234,000. HBW Advisory Services LLC raised its stake in Enbridge by 1.0% during the first quarter. HBW Advisory Services LLC now owns 84,820 shares of the pipeline company’s stock worth $3,758,000 after purchasing an additional 850 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Enbridge by 8.7% in the 1st quarter. Merit Financial Group LLC now owns 31,602 shares of the pipeline company’s stock valued at $1,400,000 after purchasing an additional 2,529 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. grew its stake in shares of Enbridge by 22.4% during the 1st quarter. O Keefe Stevens Advisory Inc. now owns 25,983 shares of the pipeline company’s stock valued at $1,151,000 after buying an additional 4,753 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $47.16 on Tuesday. The business’s 50-day simple moving average is $44.98 and its 200 day simple moving average is $43.77. The company has a market cap of $102.80 billion, a P/E ratio of 27.42, a PEG ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.23.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the previous year, the company posted $0.92 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.76%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge’s payout ratio is presently 139.69%.

Enbridge 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.