Enbridge Inc $ENB Position Lessened by Midwest Trust Co

Midwest Trust Co decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Exchange Traded Concepts LLC increased its holdings in Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after buying an additional 41,601 shares during the last quarter. Viking Fund Management LLC lifted its stake in Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after acquiring an additional 61,500 shares during the last quarter. Third View Private Wealth LLC bought a new stake in Enbridge in the fourth quarter worth approximately $3,691,000. Swiss Life Asset Management Ltd grew its position in Enbridge by 19.2% in the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after acquiring an additional 44,524 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Stock Performance

Enbridge stock traded up $0.05 during trading hours on Friday, reaching $54.64. 2,330,853 shares of the company were exchanged, compared to its average volume of 3,703,008. Enbridge Inc has a 12 month low of $44.13 and a 12 month high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average of $55.48 and a 200 day moving average of $52.65. The firm has a market cap of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.15 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. 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%.

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.