First United Bank Trust bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,524 shares of the pipeline company’s stock, valued at approximately $649,000.
Several other institutional investors also recently modified their holdings of ENB. GRT Capital Partners L.L.C. boosted its position in shares of Enbridge by 0.6% in the fourth quarter. GRT Capital Partners L.L.C. now owns 15,456 shares of the pipeline company’s stock worth $649,000 after buying an additional 88 shares during the last quarter. Capital Asset Advisory Services LLC boosted its stake in Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock worth $282,000 after buying an additional 143 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Enbridge by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 87,262 shares of the pipeline company’s stock worth $3,667,000 after buying an additional 252 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Enbridge by 1.9% in the third quarter. Suntrust Banks Inc. now owns 19,363 shares of the pipeline company’s stock worth $856,000 after buying an additional 361 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its stake in Enbridge by 9.8% in the third quarter. Baskin Financial Services Inc. now owns 5,791 shares of the pipeline company’s stock worth $255,000 after buying an additional 516 shares in the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc (NYSE:ENB) traded up 2.04% on Friday, reaching $39.58. The company’s stock had a trading volume of 2,815,727 shares. The company has a market cap of $64.86 billion, a P/E ratio of 44.82 and a beta of 0.62. Enbridge Inc has a 12 month low of $38.26 and a 12 month high of $45.77. The stock’s 50 day moving average price is $41.39 and its 200 day moving average price is $42.01.
Enbridge (NYSE:ENB) last announced its quarterly earnings results on Friday, February 17th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. Equities research analysts forecast that Enbridge Inc will post $1.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be given a dividend of $0.4435 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.77 annualized dividend and a dividend yield of 4.57%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is currently 119.33%.
A number of research firms recently weighed in on ENB. Wolfe Research began coverage on Enbridge in a report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target for the company. Morgan Stanley initiated coverage on Enbridge in a report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target for the company. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Wells Fargo & Co reissued a “market perform” rating on shares of Enbridge in a research note on Friday, March 31st. Finally, Credit Suisse Group AG initiated coverage on Enbridge in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $70.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.20.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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