M&T Bank Corp Has $10.22 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

M&T Bank Corp trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 283,767 shares of the pipeline company’s stock after selling 1,069 shares during the quarter. M&T Bank Corp’s holdings in Enbridge were worth $10,221,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Harbor Investment Advisory LLC boosted its position in shares of Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after acquiring an additional 280 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after buying an additional 300 shares during the last quarter. Capital Investment Counsel Inc lifted its position in shares of Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after buying an additional 326 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after buying an additional 341 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its position in shares of Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after buying an additional 344 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Shares of NYSE:ENB opened at $36.34 on Monday. The business’s 50 day simple moving average is $35.32 and its two-hundred day simple moving average is $34.95. The firm has a market cap of $77.26 billion, a P/E ratio of 17.30, a PEG ratio of 3.43 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. As a group, research analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.20.

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.