First Bank & Trust Buys 4,199 Shares of Enbridge Inc. (NYSE:ENB)

First Bank & Trust lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,310 shares of the pipeline company’s stock after acquiring an additional 4,199 shares during the quarter. Enbridge accounts for about 0.9% of First Bank & Trust’s investment portfolio, making the stock its 17th largest holding. First Bank & Trust’s holdings in Enbridge were worth $3,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ENB. Stokes Capital Advisors LLC grew its position in Enbridge by 12.0% during the second quarter. Stokes Capital Advisors LLC now owns 114,548 shares of the pipeline company’s stock valued at $4,255,000 after buying an additional 12,264 shares during the period. Buckingham Capital Management Inc. grew its position in Enbridge by 1.7% during the second quarter. Buckingham Capital Management Inc. now owns 24,918 shares of the pipeline company’s stock valued at $926,000 after buying an additional 426 shares during the period. Norway Savings Bank grew its position in Enbridge by 9.7% during the second quarter. Norway Savings Bank now owns 13,884 shares of the pipeline company’s stock valued at $516,000 after buying an additional 1,230 shares during the period. Capital Investment Advisors LLC grew its position in Enbridge by 5.1% during the second quarter. Capital Investment Advisors LLC now owns 36,670 shares of the pipeline company’s stock valued at $1,362,000 after buying an additional 1,778 shares during the period. Finally, Janiczek Wealth Management LLC grew its position in Enbridge by 19.8% during the second quarter. Janiczek Wealth Management LLC now owns 1,957 shares of the pipeline company’s stock valued at $73,000 after buying an additional 324 shares during the period. 48.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, August 7th. Scotiabank initiated coverage on shares of Enbridge in a research report on Monday, September 11th. They issued a “sector perform” rating for the company. TD Securities dropped their price target on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Wells Fargo & Company lowered shares of Enbridge from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 6th. Finally, CIBC upped their price target on shares of Enbridge from $63.00 to $64.00 and gave the stock an “outperformer” rating in a research report on Monday, September 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.57.

Enbridge Price Performance

Shares of ENB stock traded down $0.02 during mid-day trading on Monday, hitting $35.07. The company had a trading volume of 1,571,699 shares, compared to its average volume of 4,047,587. Enbridge Inc. has a 52-week low of $32.90 and a 52-week high of $42.12. The stock’s 50 day moving average price is $35.65 and its 200-day moving average price is $37.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. The company has a market capitalization of $74.54 billion, a P/E ratio of 24.96, a P/E/G ratio of 2.79 and a beta of 0.85.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 4th. The pipeline company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.49 billion. Equities research analysts forecast that Enbridge Inc. will post 2.11 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $0.67 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, August 14th. This represents a $2.68 dividend on an annualized basis and a yield of 7.64%. Enbridge’s dividend payout ratio is presently 187.86%.

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.