North Dallas Bank & Trust Co. Invests $783,000 in Enbridge Inc $ENB

North Dallas Bank & Trust Co. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, Holdings Channel.com reports. The fund acquired 16,377 shares of the pipeline company’s stock, valued at approximately $783,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. TD Asset Management Inc raised its position in Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares during the period. Norges Bank purchased a new position in Enbridge in the 4th quarter worth $1,195,559,000. Geode Capital Management LLC raised its position in Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after purchasing an additional 1,415,995 shares during the period. Finally, Legal & General Group Plc raised its position in Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares during the period. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

ENB stock opened at $55.52 on Wednesday. The firm’s 50-day moving average price is $54.68 and its two-hundred day moving average price is $51.49. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The stock has a market capitalization of $121.23 billion, a price-to-earnings ratio of 26.07 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, equities analysts predict that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s payout ratio is presently 133.80%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.