Midwest Trust Co Has $35.48 Million Stock Position in Enbridge Inc $ENB

Midwest Trust Co reduced its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 655,395 shares of the pipeline company’s stock after selling 12,369 shares during the period. Midwest Trust Co’s holdings in Enbridge were worth $35,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ENB. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter worth $1,195,559,000. Auto Owners Insurance Co increased its position in Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after acquiring an additional 8,387,721 shares during the period. Bank of Nova Scotia raised its stake in Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after purchasing an additional 5,157,030 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Enbridge during the 4th quarter valued at $132,705,000. Finally, Vanguard Group Inc. boosted its holdings in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ENB shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Royal Bank Of Canada raised their price objective on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

NYSE:ENB traded up $0.05 during mid-day trading on Friday, hitting $54.64. The company’s stock had a trading volume of 2,330,853 shares, compared to its average volume of 3,703,008. The company has a market capitalization of $119.34 billion, a price-to-earnings ratio of 25.65 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 Inc has a fifty-two week low of $44.13 and a fifty-two week high of $58.45. The stock has a fifty day moving average of $55.48 and a 200-day moving average of $52.65.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the prior year, the company posted $1.03 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.15 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is currently 133.80%.

Enbridge Profile

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.