Bank of Jackson Hole Trust Makes New $368,000 Investment in Enbridge Inc. (NYSE:ENB)

Bank of Jackson Hole Trust purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,667 shares of the pipeline company’s stock, valued at approximately $368,000.

Other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Enbridge during the fourth quarter valued at about $104,000. Venturi Wealth Management LLC grew its position in shares of Enbridge by 157.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,949 shares of the pipeline company’s stock valued at $125,000 after purchasing an additional 1,802 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Enbridge by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 175,703 shares of the pipeline company’s stock valued at $7,455,000 after purchasing an additional 1,280 shares in the last quarter. Wealth Quarterback LLC grew its position in shares of Enbridge by 10.4% during the fourth quarter. Wealth Quarterback LLC now owns 7,900 shares of the pipeline company’s stock valued at $335,000 after purchasing an additional 744 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Enbridge by 16.4% during the fourth quarter. Sanctuary Advisors LLC now owns 203,840 shares of the pipeline company’s stock valued at $9,105,000 after purchasing an additional 28,674 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.9 %

ENB opened at $42.70 on Wednesday. The firm has a market cap of $93.05 billion, a P/E ratio of 19.77, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a 50-day moving average of $43.35 and a 200 day moving average of $41.83.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the business posted $0.64 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.28%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 155.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

About Enbridge

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.