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

City State Bank decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. CIBC Asset Management Inc lifted its stake in Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Enbridge by 3.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the period. Toronto Dominion Bank lifted its position in Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares during the last quarter. National Bank of Canada FI lifted its position in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock traded up $0.43 during trading on Monday, hitting $43.91. The stock had a trading volume of 814,843 shares, compared to its average volume of 2,765,106. The business has a fifty day moving average of $42.51 and a two-hundred day moving average of $40.30. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The firm has a market cap of $95.65 billion, a P/E ratio of 20.33, a PEG ratio of 4.14 and a beta of 0.93. 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the company earned $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.03 earnings per share for the current fiscal 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 $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.10%. Enbridge’s dividend payout ratio is currently 124.07%.

Analysts Set New Price Targets

ENB has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.