First Bank & Trust Raises Stock Position in Enbridge Inc. (NYSE:ENB)

First Bank & Trust grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 88,171 shares of the pipeline company’s stock after purchasing an additional 451 shares during the quarter. First Bank & Trust’s holdings in Enbridge were worth $3,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after buying an additional 319,907 shares during the period. Sound Income Strategies LLC increased its stake in Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after buying an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc increased its stake in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after buying an additional 15,207 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $42.31 on Thursday. The firm has a market cap of $92.20 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a fifty day moving average of $43.35 and a two-hundred day moving average of $41.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.64 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.15 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ENB. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.