Peoples Bank KS Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Peoples Bank KS decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,757 shares of the pipeline company’s stock after selling 350 shares during the period. Peoples Bank KS’s holdings in Enbridge were worth $1,574,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.33 on Friday, hitting $41.08. The company’s stock had a trading volume of 2,296,896 shares, compared to its average volume of 5,090,926. Enbridge Inc. has a 1 year low of $31.17 and a 1 year high of $41.35. The company has a market capitalization of $87.66 billion, a PE ratio of 20.81, a PEG ratio of 3.93 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company has a 50-day simple moving average of $39.61 and a 200 day simple moving average of $37.11.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.51%. Enbridge’s dividend payout ratio is 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus price target of $51.50.

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.