CNB Bank Has $341,000 Stock Position in Enbridge Inc. (NYSE:ENB)

CNB Bank cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,385 shares of the pipeline company’s stock after selling 2,417 shares during the period. CNB Bank’s holdings in Enbridge were worth $341,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Enbridge by 1.5% in the 1st 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 in the last quarter. TD Asset Management Inc increased its stake in shares of Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the period. Cibc World Market Inc. boosted its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Trading Up 0.3 %

ENB opened at $41.98 on Friday. The stock has a market cap of $89.58 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a twelve month low of $31.31 and a twelve month high of $42.03. The company has a fifty day moving average of $40.38 and a 200-day moving average of $37.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the company earned $0.51 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared 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 6.37%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Enbridge 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.