First County Bank CT Reduces Stock Holdings in Enbridge Inc. (NYSE:ENB)

First County Bank CT cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 32,142 shares of the pipeline company’s stock after selling 236 shares during the quarter. First County Bank CT’s holdings in Enbridge were worth $1,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the 2nd quarter valued at approximately $28,000. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust raised its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth about $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Up 1.6 %

Shares of NYSE:ENB traded up $0.70 during trading on Tuesday, hitting $43.69. The company’s stock had a trading volume of 1,617,188 shares, compared to its average volume of 2,521,300. The company has a market capitalization of $95.17 billion, a PE ratio of 20.23, a P/E/G ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The business has a 50 day moving average price of $42.24 and a two-hundred day moving average price of $40.06.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the company earned $0.46 EPS. As a group, research analysts expect that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

About Enbridge

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.