Enbridge Inc. (NYSE:ENB) Holdings Raised by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 46.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,687 shares of the pipeline company’s stock after acquiring an additional 2,748 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Enbridge were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new position in Enbridge during the 1st quarter worth $31,000. Finally, Grove Bank & Trust grew its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.3 %

Shares of ENB stock opened at $41.98 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a 1 year low of $31.31 and a 1 year high of $42.03. The stock has a fifty day moving average of $40.38 and a two-hundred day moving average of $37.55. The firm has a market capitalization of $89.58 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93.

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

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.37%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.