Equitable Trust Co. Has $693,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Equitable Trust Co. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,325 shares of the pipeline company’s stock after selling 492 shares during the quarter. Equitable Trust Co.’s holdings in Enbridge were worth $693,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $303,000. Valeo Financial Advisors LLC acquired a new position in shares of Enbridge in the 3rd quarter valued at $230,000. CHICAGO TRUST Co NA acquired a new position in shares of Enbridge in the 3rd quarter valued at $216,000. Thomasville National Bank grew its holdings in shares of Enbridge by 3.7% in the 3rd quarter. Thomasville National Bank now owns 794,061 shares of the pipeline company’s stock valued at $32,247,000 after buying an additional 28,682 shares during the period. Finally, Procyon Advisors LLC grew its holdings in shares of Enbridge by 8.1% in the 3rd quarter. Procyon Advisors LLC now owns 118,201 shares of the pipeline company’s stock valued at $4,800,000 after buying an additional 8,888 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $44.80 on Tuesday. The firm has a market cap of $97.60 billion, a PE ratio of 20.74, a PEG ratio of 4.08 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a fifty day moving average price of $43.20 and a 200 day moving average price of $41.48.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.98%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.