Passumpsic Savings Bank Purchases New Position in Enbridge Inc $ENB

Passumpsic Savings Bank purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 12,281 shares of the pipeline company’s stock, valued at approximately $587,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Tsfg LLC lifted its position in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management purchased a new stake in Enbridge in the third quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge in the third quarter valued at $28,000. Garner Asset Management Corp purchased a new stake in Enbridge in the fourth quarter valued at $30,000. Finally, Imprint Wealth LLC purchased a new stake in Enbridge in the third quarter valued at $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $55.31 on Monday. The company has a 50-day simple moving average of $53.88 and a 200-day simple moving average of $50.43. Enbridge Inc has a one year low of $43.59 and a one year high of $56.22. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The stock has a market capitalization of $120.79 billion, a price-to-earnings ratio of 25.97 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the company earned $1.03 earnings per share. On average, analysts predict that Enbridge Inc will post 2.17 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, May 15th. Enbridge’s payout ratio is 133.80%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ENB shares. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Royal Bank Of Canada upped their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.