Enbridge Inc. (NYSE:ENB) Shares Sold by Bank & Trust Co

Bank & Trust Co decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 25,331 shares of the pipeline company’s stock after selling 389 shares during the quarter. Bank & Trust Co’s holdings in Enbridge were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the second quarter valued at $28,000. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge during the third quarter valued at approximately $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Up 1.1 %

NYSE ENB traded up $0.49 during trading on Tuesday, reaching $43.48. 758,160 shares of the company’s stock were exchanged, compared to its average volume of 2,318,240. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The company’s fifty day simple moving average is $42.24 and its 200-day simple moving average is $40.06. The firm has a market capitalization of $94.71 billion, a PE ratio of 20.13, a P/E/G ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the company posted $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

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.