Northwest Bank & Trust Co Makes New Investment in Enbridge Inc. (NYSE:ENB)

Northwest Bank & Trust Co acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 954 shares of the pipeline company’s stock, valued at approximately $34,000.

A number of other hedge funds have also modified their holdings of ENB. BOK Financial Private Wealth Inc. purchased a new stake in Enbridge during the 4th quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its stake in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge during the fourth quarter worth $28,000. Financial Gravity Asset Management Inc. grew its position in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in Enbridge in the 4th quarter valued at $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

Shares of NYSE ENB traded down $0.25 during trading on Friday, hitting $35.12. 6,904,167 shares of the company were exchanged, compared to its average volume of 4,577,936. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $38.37. The company has a market cap of $74.67 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.29 and a beta of 0.90. The firm’s fifty day moving average price is $35.86 and its 200 day moving average price is $35.63.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. On average, sell-side analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a $0.677 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.71%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.