Midwest Trust Co Takes Position in Enbridge Inc $ENB

Midwest Trust Co purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 678,167 shares of the pipeline company’s stock, valued at approximately $30,735,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC grew its stake in shares of Enbridge by 25.3% during the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after purchasing an additional 10,488 shares during the last quarter. 111 Capital acquired a new position in Enbridge during the 2nd quarter worth $1,887,000. Loudon Investment Management LLC boosted its position in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after buying an additional 8,600 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Enbridge by 37.7% in the 2nd quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 19,655 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Enbridge by 0.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after buying an additional 32,268 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.7%

Shares of NYSE ENB opened at $47.69 on Friday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $104.00 billion, a P/E ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. The firm has a 50 day moving average price of $48.28 and a 200 day moving average price of $46.76.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the firm earned $0.55 EPS. Analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is 132.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENB shares. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Company 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.