Blue Trust Inc. Has $783,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Blue Trust Inc. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,458 shares of the pipeline company’s stock after buying an additional 4,722 shares during the quarter. Blue Trust Inc.’s holdings in Enbridge were worth $783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

NYSE ENB opened at $43.13 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $93.95 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The company has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $41.73. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date 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.