Argent Trust Co raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,124 shares of the pipeline company’s stock after buying an additional 11,033 shares during the quarter. Argent Trust Co’s holdings in Enbridge were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Enbridge by 58.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Csenge Advisory Group purchased a new stake in shares of Enbridge during the third quarter worth approximately $28,000. Rockland Trust Co. purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $28,000. We Are One Seven LLC purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $28,000. Finally, Mackey Komara & Dankovich LLC purchased a new stake in shares of Enbridge during the fourth quarter worth approximately $31,000. Institutional investors own 49.65% of the company’s stock.
In related news, insider Byron C. Neiles sold 64,000 shares of the company’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the transaction, the insider now owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Albert Monaco acquired 7,569 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $43.82 per share, for a total transaction of $331,673.58. Following the acquisition, the insider now directly owns 67,329 shares of the company’s stock, valued at $2,950,356.78. The disclosure for this purchase can be found here. Corporate insiders own 0.48% of the company’s stock.
Several equities research analysts have recently commented on the company. ValuEngine cut Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, February 5th. Macquarie assumed coverage on Enbridge in a research note on Thursday, January 24th. They set an “outperform” rating for the company. UBS Group cut Enbridge from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. Finally, Evercore ISI initiated coverage on Enbridge in a research note on Tuesday, February 5th. They set an “outperform” rating for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.80.
Shares of ENB stock opened at $35.91 on Thursday. Enbridge Inc has a 1-year low of $28.82 and a 1-year high of $37.69. The firm has a market cap of $72.13 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Thursday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. Enbridge’s dividend payout ratio is currently 131.82%.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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