Enbridge Inc. (NYSE:ENB) Shares Bought by Sabal Trust CO

Sabal Trust CO raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% during the 4th quarter, Holdings Channel reports. The firm owned 14,744 shares of the pipeline company’s stock after acquiring an additional 800 shares during the quarter. Sabal Trust CO’s holdings in Enbridge were worth $626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ENB. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% in the third 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 purchased a new stake in shares of Enbridge in the fourth quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of Enbridge in the third quarter valued at $35,000. Darwin Wealth Management LLC purchased a new stake in shares of Enbridge in the third quarter valued at $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position 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 in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enbridge Stock Performance

NYSE ENB opened at $41.78 on Thursday. The business’s 50-day moving average price is $43.38 and its 200 day moving average price is $41.95. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a market capitalization of $91.04 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued 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 6.42%. Enbridge’s dividend payout ratio (DPR) is 155.81%.

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.