BankPlus Trust Department Makes New Investment in Enbridge Inc. (NYSE:ENB)

BankPlus Trust Department purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,893 shares of the pipeline company’s stock, valued at approximately $1,693,000.

A number of other hedge funds have also recently made changes to their positions in ENB. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in 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 in the last quarter. Albion Financial Group UT bought a new stake in Enbridge in the 4th quarter worth approximately $29,000. Fortitude Family Office LLC bought a new stake in Enbridge during the third quarter worth approximately $35,000. Darwin Wealth Management LLC bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Enbridge by 149.9% in the fourth 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 period. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $41.74 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market cap of $90.94 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The firm’s 50 day moving average price is $43.35 and its 200-day moving average price is $41.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.