5,297 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Texas Bank & Trust Co

Texas Bank & Trust Co purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,297 shares of the pipeline company’s stock, valued at approximately $225,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. GQG Partners LLC grew its stake in shares of Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Enbridge in the 4th quarter valued at approximately $909,415,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Down 0.1%

Enbridge stock opened at $44.90 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $97.87 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The stock’s fifty day moving average is $44.49 and its two-hundred day moving average is $43.47.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.05%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s payout ratio is 139.69%.

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.