Trust Co. of Vermont Decreases Stock Holdings in Enbridge Inc $ENB

Trust Co. of Vermont trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,629 shares of the pipeline company’s stock after selling 4,379 shares during the period. Trust Co. of Vermont’s holdings in Enbridge were worth $8,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC raised its holdings in Enbridge by 1.1% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 77,774 shares of the pipeline company’s stock valued at $3,524,000 after buying an additional 813 shares during the period. Loudon Investment Management LLC raised its holdings in Enbridge by 40.6% during the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after buying an additional 8,600 shares during the period. Marino Stram & Associates LLC raised its holdings in Enbridge by 11.1% during the 2nd quarter. Marino Stram & Associates LLC now owns 24,222 shares of the pipeline company’s stock valued at $1,098,000 after buying an additional 2,412 shares during the period. Rogco LP raised its holdings in Enbridge by 18.1% during the 2nd quarter. Rogco LP now owns 13,830 shares of the pipeline company’s stock valued at $627,000 after buying an additional 2,123 shares during the period. Finally, PFG Investments LLC raised its holdings in Enbridge by 2.4% during the 2nd quarter. PFG Investments LLC now owns 21,077 shares of the pipeline company’s stock valued at $955,000 after buying an additional 487 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $50.48 on Wednesday. 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 business’s fifty day simple moving average is $47.79 and its two-hundred day simple moving average is $45.98. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.50. The firm has a market cap of $110.09 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 4.55 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 134.98%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ENB shares. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus increased their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” 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.