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

CNB Bank trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,104 shares of the pipeline company’s stock after selling 1,281 shares during the period. CNB Bank’s holdings in Enbridge were worth $301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC raised its stake in shares of 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 purchasing an additional 295 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third 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 bought a new stake in Enbridge in the third quarter valued at about $35,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ENB shares. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of ENB opened at $44.48 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.74. The firm has a fifty day moving average of $42.68 and a 200-day moving average of $40.45. The company has a market cap of $96.89 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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. The firm had revenue of $10.91 billion during 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 prior year, the firm earned $0.46 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.