AMG National Trust Bank Purchases Shares of 6,300 Enbridge Inc. (NYSE:ENB)

AMG National Trust Bank purchased a new position in shares of Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,300 shares of the pipeline company’s stock, valued at approximately $234,000.

Several other hedge funds have also recently added to or reduced their stakes in ENB. Bank of Nova Scotia lifted its stake in Enbridge by 116.3% during the second quarter. Bank of Nova Scotia now owns 24,897,404 shares of the pipeline company’s stock worth $1,051,405,000 after purchasing an additional 13,386,638 shares during the last quarter. Deutsche Bank AG lifted its stake in Enbridge by 15.4% during the second quarter. Deutsche Bank AG now owns 42,067,808 shares of the pipeline company’s stock worth $1,777,785,000 after purchasing an additional 5,598,127 shares during the last quarter. GQG Partners LLC lifted its stake in Enbridge by 9.0% during the second quarter. GQG Partners LLC now owns 51,856,121 shares of the pipeline company’s stock worth $2,186,048,000 after purchasing an additional 4,276,415 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Enbridge in the 3rd quarter valued at about $128,054,000. Finally, Vanguard Group Inc. lifted its stake in shares of Enbridge by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock valued at $3,188,593,000 after acquiring an additional 2,491,924 shares during the last quarter. Institutional investors own 49.25% of the company’s stock.

Enbridge Stock Down 0.8 %

Shares of NYSE:ENB opened at $41.53 on Wednesday. Enbridge Inc. has a 1 year low of $35.02 and a 1 year high of $47.67. The company has a market cap of $84.09 billion, a PE ratio of 19.68, a P/E/G ratio of 3.00 and a beta of 0.82. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.47. The stock’s 50-day moving average is $40.23 and its 200 day moving average is $40.65.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last posted its earnings results on Friday, November 4th. The pipeline company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Enbridge had a return on equity of 10.60% and a net margin of 11.07%. The firm had revenue of $8.87 billion for the quarter. Sell-side analysts anticipate that Enbridge Inc. will post 2.18 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.6538 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 6.30%. Enbridge’s dividend payout ratio is 122.75%.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Enbridge from C$67.00 to C$64.00 in a research note on Wednesday, October 19th. StockNews.com initiated coverage on Enbridge in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group lowered their target price on Enbridge from C$54.00 to C$52.00 in a research note on Friday, December 9th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 7th. Finally, Scotiabank lowered their target price on Enbridge from C$62.00 to C$56.00 in a research note on Thursday, October 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $59.40.

Enbridge Company Profile

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Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

Further Reading

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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