Community Bank N.A. Decreases Stake in Enbridge Inc. (NYSE:ENB)

Community Bank N.A. decreased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,049 shares of the pipeline company’s stock after selling 1,050 shares during the quarter. Community Bank N.A.’s holdings in Enbridge were worth $38,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after purchasing an additional 815,850 shares during the period. Clarius Group LLC boosted its holdings in Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,617 shares during the period. S.E.E.D. Planning Group LLC increased its stake in Enbridge by 81.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock worth $8,272,000 after buying an additional 102,850 shares in the last quarter. Private Trust Co. NA raised its holdings in Enbridge by 5.7% during the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 473 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.3 %

Shares of NYSE:ENB traded down $0.10 during trading on Friday, reaching $36.16. The company’s stock had a trading volume of 870,006 shares, compared to its average volume of 5,723,487. The stock has a market capitalization of $76.87 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm’s 50 day simple moving average is $35.16 and its two-hundred day simple moving average is $34.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 7.49%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 129.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENB. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus started coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.20.

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.