Enbridge Inc. (NYSE:ENB) Shares Bought by First PREMIER Bank

First PREMIER Bank grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,534 shares of the pipeline company’s stock after purchasing an additional 257 shares during the period. First PREMIER Bank’s holdings in Enbridge were worth $631,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sei Investments Co. increased its holdings in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in Enbridge during the first quarter worth about $1,133,000. Vanguard Group Inc. grew its holdings in Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new position in Enbridge during the fourth quarter worth about $26,358,000. Finally, Intech Investment Management LLC acquired a new position in Enbridge during the first quarter worth about $4,069,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.50.

Enbridge Trading Down 0.3 %

NYSE:ENB opened at $40.49 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $41.35. The firm has a market capitalization of $86.40 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. The stock has a fifty day simple moving average of $39.85 and a 200 day simple moving average of $37.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the company posted $0.51 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.61%. Enbridge’s payout ratio is presently 134.01%.

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.