Enbridge Inc. (NYSE:ENB) Stock Position Lowered by CNB Bank

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Enbridge by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock valued at $86,399,000 after buying an additional 25,717 shares during the period. Argent Trust Co raised its stake in shares of Enbridge by 0.3% in the 2nd quarter. Argent Trust Co now owns 101,559 shares of the pipeline company’s stock valued at $3,614,000 after acquiring an additional 343 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Enbridge by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock worth $3,272,000 after buying an additional 3,894 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Enbridge by 6.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock worth $489,000 after acquiring an additional 861 shares during the last quarter. Finally, WCG Wealth Advisors LLC boosted its stake in Enbridge by 30.9% during the 2nd quarter. WCG Wealth Advisors LLC now owns 13,779 shares of the pipeline company’s stock valued at $490,000 after purchasing an additional 3,254 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ENB shares. 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 restated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday. They issued a “buy” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 1.0 %

NYSE:ENB opened at $44.48 on Friday. The stock’s fifty day moving average price is $42.68 and its two-hundred day moving average price is $40.45. The company has a market cap of $96.89 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.74. 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the business earned $0.46 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid 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%.

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.