Union Savings Bank Invests $1.02 Million in Enbridge Inc $ENB

Union Savings Bank acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,244 shares of the pipeline company’s stock, valued at approximately $1,016,000.

Other hedge funds also recently bought and sold shares of the company. Triumph Capital Management purchased a new stake in Enbridge in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge in the 3rd quarter valued at $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge during the 4th quarter valued at $29,000. Garner Asset Management Corp purchased a new position in shares of Enbridge during the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Enbridge in the third quarter worth $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $54.53 on Friday. The company’s fifty day moving average price is $54.92 and its 200-day moving average price is $51.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market capitalization of $119.08 billion, a price-to-earnings ratio of 25.60 and a beta of 0.58. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the firm posted $1.03 EPS. On average, equities research analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ENB. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada raised their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.