Union Savings Bank Buys 1,770 Shares of Enbridge Inc. (NYSE:ENB)

Union Savings Bank boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,800 shares of the pipeline company’s stock after purchasing an additional 1,770 shares during the quarter. Union Savings Bank’s holdings in Enbridge were worth $677,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge during the fourth quarter worth about $25,000. Baystate Wealth Management LLC boosted its holdings in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge during the fourth quarter worth approximately $28,000. Financial Gravity Asset Management Inc. raised its position in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the period. Finally, Planned Solutions Inc. acquired a new position in shares of Enbridge during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.18 during trading hours on Wednesday, hitting $36.60. 6,600,426 shares of the company’s stock traded hands, compared to its average volume of 5,962,864. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $38.37. The stock has a market capitalization of $77.81 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 3.47 and a beta of 0.86. The company has a fifty day simple moving average of $35.80 and a 200-day simple moving average of $35.35. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.40%. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.20.

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.