Missouri Trust & Investment Co Makes New $43,000 Investment in Enbridge Inc. (NYSE:ENB)

Missouri Trust & Investment Co acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,200 shares of the pipeline company’s stock, valued at approximately $43,000.

Several other institutional investors have also recently added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge during the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its position in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. increased its position in Enbridge by 2,294.6% during the third 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 during the period. Finally, Planned Solutions Inc. purchased a new stake in Enbridge in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Price Performance

Shares of ENB traded down $0.01 during mid-day trading on Friday, hitting $36.75. The company’s stock had a trading volume of 7,893,846 shares, compared to its average volume of 7,795,651. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a current ratio of 0.68, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The firm has a 50-day simple moving average of $35.77 and a 200 day simple moving average of $35.26. The firm has a market capitalization of $78.13 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.47 and a beta of 0.86.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.37%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 135.53%.

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.