City State Bank Has $472,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

City State Bank trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,125 shares of the pipeline company’s stock after selling 288 shares during the quarter. City State Bank’s holdings in Enbridge were worth $472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fiduciary Alliance LLC grew its position in Enbridge by 179.5% in the fourth quarter. Fiduciary Alliance LLC now owns 19,711 shares of the pipeline company’s stock valued at $836,000 after acquiring an additional 12,659 shares during the period. HBW Advisory Services LLC increased its position in shares of Enbridge by 0.7% during the 4th quarter. HBW Advisory Services LLC now owns 83,970 shares of the pipeline company’s stock worth $3,563,000 after purchasing an additional 591 shares in the last quarter. Franklin Street Advisors Inc. NC bought a new position in Enbridge during the 4th quarter valued at about $4,326,000. ST Germain D J Co. Inc. grew its stake in Enbridge by 81.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,560 shares of the pipeline company’s stock worth $66,000 after buying an additional 700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 1.0 %

Shares of Enbridge stock traded up $0.43 during trading hours on Monday, hitting $43.91. The company’s stock had a trading volume of 814,843 shares, compared to its average volume of 2,765,106. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $95.65 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The stock has a 50 day moving average of $42.51 and a 200 day moving average of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.10%. Enbridge’s payout ratio is presently 124.07%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ENB shares. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.