Passumpsic Savings Bank Acquires 276 Shares of Enbridge Inc. (NYSE:ENB)

Passumpsic Savings Bank grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,575 shares of the pipeline company’s stock after purchasing an additional 276 shares during the quarter. Passumpsic Savings Bank’s holdings in Enbridge were worth $470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ENB. Wedmont Private Capital increased its position in shares of Enbridge by 26.3% during the 2nd quarter. Wedmont Private Capital now owns 7,319 shares of the pipeline company’s stock valued at $264,000 after purchasing an additional 1,526 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Enbridge by 5.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 755,005 shares of the pipeline company’s stock worth $26,870,000 after buying an additional 40,040 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Enbridge by 7.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,351 shares of the pipeline company’s stock worth $262,000 after buying an additional 478 shares during the last quarter. Abundance Wealth Counselors increased its stake in Enbridge by 11.5% in the 2nd quarter. Abundance Wealth Counselors now owns 25,271 shares of the pipeline company’s stock worth $899,000 after purchasing an additional 2,606 shares during the period. Finally, S.E.E.D. Planning Group LLC increased its stake in Enbridge by 15.0% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 284,190 shares of the pipeline company’s stock worth $10,114,000 after purchasing an additional 37,099 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Down 0.1 %

Shares of ENB opened at $42.31 on Wednesday. The company has a market capitalization of $92.15 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.26 and a beta of 0.94. The stock’s 50-day moving average price is $41.92 and its 200-day moving average price is $39.17. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the firm earned $0.46 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.33%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.