Diversified Trust Co Takes Position in Enbridge Inc. (NYSE:ENB)

Diversified Trust Co acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,669 shares of the pipeline company’s stock, valued at approximately $1,286,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TruNorth Capital Management LLC bought a new position in Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in Enbridge in the 1st quarter valued at approximately $31,000. Finally, PFS Partners LLC boosted its position in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group downgraded shares of 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 assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.50.

Enbridge Stock Performance

Shares of NYSE ENB opened at $40.63 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a 50 day moving average price of $39.78 and a 200 day moving average price of $37.21. The stock has a market capitalization of $86.70 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $41.35.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.51 EPS. Analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.59%. Enbridge’s dividend 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.