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

Bank & Trust Co decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Private Advisor Group LLC raised its holdings in shares of Enbridge by 2.1% in the 2nd quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock worth $3,687,000 after purchasing an additional 2,145 shares during the period. Candriam S.C.A. raised its position in Enbridge by 45.0% in the second quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock valued at $409,000 after purchasing an additional 3,570 shares during the period. Savant Capital LLC boosted its position in shares of Enbridge by 17.8% in the second quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock worth $759,000 after buying an additional 3,218 shares during the period. Strategic Financial Concepts LLC lifted its position in Enbridge by 2,564.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock worth $95,000 after acquiring an additional 256,148 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Enbridge by 622.1% during the second quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock worth $8,139,000 after purchasing an additional 197,089 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

ENB traded up $0.49 on Tuesday, hitting $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. The stock has a fifty day moving average of $42.24 and a two-hundred day moving average of $40.06. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.13. The firm has a market cap 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 released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business 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 last year, the company earned $0.46 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

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

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.