678,167 Shares in Enbridge Inc $ENB Bought by Midwest Trust Co

Midwest Trust Co acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, Holdings Channel reports. The fund acquired 678,167 shares of the pipeline company’s stock, valued at approximately $30,735,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC acquired a new stake in Enbridge in the 1st quarter valued at approximately $208,490,000. Canada Pension Plan Investment Board raised its position in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after buying an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd bought a new stake in Enbridge in the 1st quarter valued at approximately $77,976,000. Finally, JPMorgan Chase & Co. boosted its position in Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research reports. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Price Performance

NYSE:ENB opened at $47.69 on Friday. The stock has a market capitalization of $104.00 billion, a PE ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a fifty day simple moving average of $48.28 and a 200 day simple moving average of $46.76. 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 posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the company posted $0.55 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This represents a $3.77 annualized dividend and a dividend yield of 7.9%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 132.02%.

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.