Blue Trust Inc. Has $647,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Blue Trust Inc. boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,922 shares of the pipeline company’s stock after acquiring an additional 2,186 shares during the quarter. Blue Trust Inc.’s holdings in Enbridge were worth $647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. McIlrath & Eck LLC grew its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge during the 4th quarter valued at $29,000. Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge during the third quarter worth $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.45 on Friday. The business’s 50-day simple moving average is $43.09 and its 200-day simple moving average is $41.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a market cap of $96.82 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

Enbridge 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.