First County Bank CT Sells 7,146 Shares of Enbridge Inc. (NYSE:ENB)

First County Bank CT trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,378 shares of the pipeline company’s stock after selling 7,146 shares during the quarter. First County Bank CT’s holdings in Enbridge were worth $1,315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Grove Bank & Trust increased its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the second quarter worth about $28,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.6 %

NYSE:ENB opened at $43.46 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.55. The firm’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $38.62. The company has a market cap of $94.65 billion, a PE ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.22%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.