Bangor Savings Bank Has $1.21 Million Stake in Enbridge Inc. (NYSE:ENB)

Bangor Savings Bank lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 27,220 shares of the pipeline company’s stock after selling 1,870 shares during the period. Bangor Savings Bank’s holdings in Enbridge were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wintrust Investments LLC boosted its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $39,000. Hopwood Financial Services Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $42,000. Finally, Vision Financial Markets LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 price target 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. Finally, Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Down 0.8%

Shares of ENB stock opened at $46.49 on Friday. The company’s fifty day simple moving average is $45.17 and its two-hundred day simple moving average is $43.88. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44. The stock has a market capitalization of $101.35 billion, a price-to-earnings ratio of 27.03, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

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

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.