Montecito Bank & Trust Invests $1.01 Million in Enbridge Inc $ENB

Montecito Bank & Trust bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,078 shares of the pipeline company’s stock, valued at approximately $1,013,000.

A number of other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its stake in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the period. Financial Gravity Companies Inc. bought a new position in Enbridge during the 2nd quarter worth $29,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Enbridge during the second quarter worth $31,000. Addison Advisors LLC acquired a new position in shares of Enbridge in the second quarter valued at about $35,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Enbridge in the second quarter valued at about $36,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ENB shares. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a report on Monday. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Trading Down 0.4%

Shares of ENB stock opened at $46.73 on Friday. The stock’s fifty day moving average price is $47.57 and its two-hundred day moving average price is $47.16. The company has a market cap of $101.93 billion, a PE ratio of 25.68 and a beta of 0.68. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the firm posted $0.55 EPS. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.3%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

About Enbridge

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.