Kennebec Savings Bank Has $517,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Kennebec Savings Bank lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,679 shares of the pipeline company’s stock after selling 516 shares during the period. Kennebec Savings Bank’s holdings in Enbridge were worth $517,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after buying an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after buying an additional 1,040,799 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Enbridge during the fourth quarter worth approximately $909,415,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $46.49 on Friday. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company’s 50 day simple moving average is $45.17 and its 200-day simple moving average is $43.88. The stock has a market capitalization of $101.35 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s dividend payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENB. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

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.