Blue Trust Inc. Boosts Stake in Enbridge Inc $ENB

Blue Trust Inc. increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,969 shares of the pipeline company’s stock after purchasing an additional 1,816 shares during the period. Blue Trust Inc.’s holdings in Enbridge were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Cyndeo Wealth Partners LLC purchased a new position in Enbridge in the 2nd quarter valued at approximately $361,000. M. Kraus & Co boosted its position in Enbridge by 1.2% in the 2nd quarter. M. Kraus & Co now owns 144,259 shares of the pipeline company’s stock valued at $6,538,000 after buying an additional 1,675 shares during the period. IFP Advisors Inc boosted its position in Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares during the period. Blair William & Co. IL boosted its position in Enbridge by 1.7% in the 2nd quarter. Blair William & Co. IL now owns 122,994 shares of the pipeline company’s stock valued at $5,574,000 after buying an additional 2,042 shares during the period. Finally, Boomfish Wealth Group LLC boosted its position in Enbridge by 4.6% in the 2nd quarter. Boomfish Wealth Group LLC now owns 40,051 shares of the pipeline company’s stock valued at $1,815,000 after buying an additional 1,759 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $47.67 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The firm’s fifty day simple moving average is $48.41 and its 200-day simple moving average is $46.26. The firm has a market capitalization of $103.96 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 4.37 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the business earned $0.58 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ENB shares. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Argus raised their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.50.

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.