First Bank & Trust Grows Holdings in Enbridge Inc. (NYSE:ENB)

First Bank & Trust increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,720 shares of the pipeline company’s stock after buying an additional 564 shares during the period. First Bank & Trust’s holdings in Enbridge were worth $3,562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the period. TD Asset Management Inc boosted its stake in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after acquiring an additional 337,729 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. lifted its stake in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.19 during trading on Friday, hitting $40.94. The stock had a trading volume of 3,119,480 shares, compared to its average volume of 2,646,088. The business has a fifty day moving average of $40.60 and a two-hundred day moving average of $37.72. The firm has a market cap of $89.16 billion, a P/E ratio of 21.32, a PEG ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $31.31 and a fifty-two week high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm posted $0.51 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. Enbridge’s dividend payout ratio is currently 137.50%.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Enbridge in a research note on Friday. They set an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

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.