Trust Co. of Vermont Buys New Holdings in Enbridge Inc $ENB

Trust Co. of Vermont purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 186,372 shares of the pipeline company’s stock, valued at approximately $10,103,000.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Enbridge in the fourth quarter valued at $261,000. AQR Capital Management LLC lifted its holdings in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after buying an additional 11,599 shares during the last quarter. AXA S.A. lifted its holdings in Enbridge by 15.5% during the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after buying an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC boosted its position in shares of Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after acquiring an additional 34,912 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Wolfe Research set a $50.00 price objective on Enbridge in a report on Tuesday, August 4th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada increased their price target on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $50.63 on Tuesday. The stock’s 50-day moving average is $54.57 and its two-hundred day moving average is $53.97. The firm has a market cap of $110.58 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The business had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the business earned $0.65 EPS. Analysts predict that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.7%. Enbridge’s payout ratio is 147.06%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.