BankPlus Trust Department Takes Position in Enbridge Inc. (NYSE:ENB)

BankPlus Trust Department purchased a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 39,893 shares of the pipeline company's stock, valued at approximately $1,693,000.

A number of other hedge funds have also modified their holdings of the business. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge in the 4th quarter valued at about $29,000. Fortitude Family Office LLC acquired a new position in Enbridge in the 3rd quarter valued at about $35,000. Darwin Wealth Management LLC purchased a new stake in Enbridge during the third quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock worth $41,000 after purchasing an additional 580 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.0 %

Shares of Enbridge stock traded down $0.02 during trading hours on Thursday, hitting $41.74. The company had a trading volume of 2,347,968 shares, compared to its average volume of 4,406,841. The company's 50-day moving average is $43.38 and its two-hundred day moving average is $41.95. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company has a market cap of $90.94 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge's payout ratio is currently 155.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Company 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.