Enbridge Inc. (NYSE:ENB) Shares Sold by Busey Bank

Busey Bank lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 36.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,058 shares of the pipeline company’s stock after selling 5,802 shares during the period. Busey Bank’s holdings in Enbridge were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cross Staff Investments Inc purchased a new position in Enbridge in the third quarter valued at about $214,000. Tectonic Advisors LLC increased its holdings in Enbridge by 12.3% in the third quarter. Tectonic Advisors LLC now owns 240,294 shares of the pipeline company’s stock valued at $9,758,000 after buying an additional 26,251 shares in the last quarter. Rowlandmiller & PARTNERS.ADV purchased a new position in Enbridge in the third quarter valued at about $104,000. apricus wealth LLC increased its holdings in Enbridge by 2.5% in the third quarter. apricus wealth LLC now owns 20,395 shares of the pipeline company’s stock valued at $828,000 after buying an additional 495 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Enbridge by 19.8% in the third quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock valued at $3,054,000 after buying an additional 12,431 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ENB shares. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday. They set an “equal weight” rating for the company.

Enbridge Stock Down 0.4 %

Shares of NYSE ENB opened at $40.95 on Friday. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.16. The firm’s 50 day moving average price is $40.55 and its 200 day moving average price is $37.68. The firm has a market cap of $89.18 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.53%. Enbridge’s dividend payout ratio (DPR) is currently 137.50%.

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.