Adirondack Trust Co. Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Adirondack Trust Co. decreased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,295 shares of the pipeline company’s stock after selling 490 shares during the quarter. Adirondack Trust Co.’s holdings in Enbridge were worth $79,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Enbridge by 31.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 426,387 shares of the pipeline company’s stock valued at $14,388,000 after acquiring an additional 102,845 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Enbridge by 0.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 100,695 shares of the pipeline company’s stock valued at $3,342,000 after acquiring an additional 747 shares during the last quarter. Prudential PLC boosted its position in shares of Enbridge by 54.4% in the 3rd quarter. Prudential PLC now owns 15,071 shares of the pipeline company’s stock valued at $500,000 after purchasing an additional 5,309 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Enbridge in the 3rd quarter valued at about $6,350,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Enbridge by 38.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,612,196 shares of the pipeline company’s stock valued at $120,119,000 after purchasing an additional 1,012,370 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Stock Down 0.1 %

ENB opened at $34.80 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The business has a 50 day simple moving average of $35.84 and a 200-day simple moving average of $35.63. The stock has a market capitalization of $73.99 billion, a P/E ratio of 17.66, a P/E/G ratio of 3.27 and a beta of 0.90. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, equities analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.78%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

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.