Enbridge Inc. (NYSE:ENB) Shares Bought by Private Trust Co. NA

Private Trust Co. NA lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,415 shares of the pipeline company’s stock after buying an additional 488 shares during the quarter. Private Trust Co. NA’s holdings in Enbridge were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Enbridge during the 3rd quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Enbridge by 149.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge during the 4th quarter valued at $42,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 2.4 %

Shares of NYSE:ENB opened at $42.73 on Monday. The stock has a market capitalization of $93.11 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company’s fifty day moving average is $43.42 and its two-hundred day moving average is $42.01. 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 (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the company earned $0.64 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were issued a $0.67 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.00.

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.