UMB Bank n.a. Trims Stake in Enbridge Inc. (NYSE:ENB)

UMB Bank n.a. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,401 shares of the pipeline company’s stock after selling 1,548 shares during the period. UMB Bank n.a.’s holdings in Enbridge were worth $866,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ENB. Armstrong Advisory Group Inc. lifted its position in shares of Enbridge by 3.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares in the last quarter. Eagle Bay Advisors LLC lifted its holdings in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares during the period. Associated Banc Corp increased its stake in shares of Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 248 shares in the last quarter. Finally, Hobbs Group Advisors LLC raised its position in shares of Enbridge by 15.1% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.9 %

Shares of ENB stock opened at $45.35 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock’s 50-day moving average price is $42.79 and its 200-day moving average price is $40.66.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 EPS. Equities research analysts predict that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm 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 $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.91%. Enbridge’s payout ratio is currently 121.76%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

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.