Canandaigua National Bank & Trust Co. Buys 1,892 Shares of Enbridge Inc. (NYSE:ENB)

Canandaigua National Bank & Trust Co. boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 21,037 shares of the pipeline company’s stock after acquiring an additional 1,892 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Enbridge were worth $761,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its holdings in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $34,000. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Price Performance

Shares of NYSE:ENB opened at $34.80 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The stock’s 50 day moving average is $35.84 and its 200-day moving average is $35.63. The firm has a market capitalization of $73.99 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.27 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. Sell-side analysts forecast that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 136.04%.

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.