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

Peoples Bank KS lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,383 shares of the pipeline company’s stock after selling 374 shares during the quarter. Enbridge makes up about 1.1% of Peoples Bank KS’s portfolio, making the stock its 25th biggest holding. Peoples Bank KS’s holdings in Enbridge were worth $1,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter valued at about $28,000. McIlrath & Eck LLC grew its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENB. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 1.7 %

Shares of NYSE:ENB opened at $43.72 on Wednesday. The firm has a market cap of $95.23 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a fifty day simple moving average of $42.30 and a 200 day simple moving average of $40.12. 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 12-month low of $32.85 and a 12-month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the business earned $0.46 EPS. On average, equities research analysts anticipate 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 paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.13%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 124.07%.

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.