First Bank & Trust Has $3.56 Million Stock Position in Enbridge Inc. (NYSE:ENB)

First Bank & Trust boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,720 shares of the pipeline company’s stock after acquiring an additional 564 shares during the quarter. First Bank & Trust’s holdings in Enbridge were worth $3,562,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First PREMIER Bank grew its holdings in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Grove Bank & Trust grew its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Rockwood Wealth Management LLC increased its position in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ENB shares. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.19 during trading on Friday, reaching $40.94. The stock had a trading volume of 3,119,480 shares, compared to its average volume of 2,646,088. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $37.72. The firm has a market capitalization of $89.16 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. Enbridge’s dividend payout ratio is currently 137.50%.

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.