Enbridge Inc $ENB Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,969 shares of the pipeline company’s stock after purchasing an additional 1,816 shares during the quarter. Blue Trust Inc.’s holdings in Enbridge were worth $769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new stake in Enbridge during the 4th quarter worth $261,000. GAMMA Investing LLC grew its position in Enbridge by 4,331.0% during the 1st quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after purchasing an additional 30,880 shares during the last quarter. Farther Finance Advisors LLC grew its position in Enbridge by 64.6% during the 1st quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after purchasing an additional 7,992 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Enbridge by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock worth $3,337,000 after purchasing an additional 320 shares during the last quarter. Finally, CX Institutional purchased a new position in Enbridge during the 1st quarter worth $85,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ENB shares. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Six equities research 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 a consensus target price of $60.50.

Enbridge Stock Down 0.7%

Shares of NYSE:ENB opened at $47.67 on Friday. The company has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 4.37 and a beta of 0.78. The firm’s 50-day simple moving average is $48.41 and its 200-day simple moving average is $46.26. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. 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. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge’s payout ratio is presently 134.98%.

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.