CHICAGO TRUST Co NA Takes Position in Enbridge Inc. (NYSE:ENB)

CHICAGO TRUST Co NA purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,308 shares of the pipeline company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Enbridge in the first quarter worth $1,133,000. Vanguard Group Inc. grew its stake in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Enbridge in the first quarter worth $4,069,000. Finally, US Bancorp DE grew its stake in shares of Enbridge by 21.2% in the first quarter. US Bancorp DE now owns 461,607 shares of the pipeline company’s stock worth $16,701,000 after acquiring an additional 80,711 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.2 %

Enbridge stock opened at $41.15 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a one year low of $31.31 and a one year high of $41.35. The stock has a market capitalization of $87.80 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The business’s fifty day moving average is $40.12 and its 200 day moving average is $37.38.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Two equities research 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. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $51.50.

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.