Kentucky Trust Co purchased a new stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 78,595 shares of the pipeline company's stock, valued at approximately $3,335,000. Enbridge makes up 2.0% of Kentucky Trust Co's investment portfolio, making the stock its 10th largest position.
Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Advisors Inc. OK acquired a new position in shares of Enbridge in the 4th quarter valued at about $30,140,000. Certuity LLC acquired a new position in shares of Enbridge in the 4th quarter valued at about $201,000. Leavell Investment Management Inc. boosted its holdings in shares of Enbridge by 1.6% in the 4th quarter. Leavell Investment Management Inc. now owns 24,472 shares of the pipeline company's stock valued at $1,038,000 after buying an additional 385 shares during the period. Hartline Investment Corp lifted its position in Enbridge by 5.6% in the 4th quarter. Hartline Investment Corp now owns 27,488 shares of the pipeline company's stock valued at $1,166,000 after purchasing an additional 1,453 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its position in Enbridge by 1.6% in the 4th quarter. Focus Financial Network Inc. now owns 16,988 shares of the pipeline company's stock valued at $721,000 after purchasing an additional 262 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.
Enbridge Price Performance
Shares of ENB stock traded down $2.33 during midday trading on Friday, reaching $43.13. 5,862,322 shares of the company were exchanged, compared to its average volume of 4,078,409. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a market cap of $93.95 billion, a P/E ratio of 19.97, a PEG ratio of 4.08 and a beta of 0.94. The company's 50 day moving average price is $43.33 and its two-hundred day moving average price is $41.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge's payout ratio is currently 121.76%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.00.
Read Our Latest Research Report on ENB
About Enbridge
(
Free Report)
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.
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