Kennebec Savings Bank Sells 635 Shares of Enbridge Inc. (NYSE:ENB)

Kennebec Savings Bank lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,195 shares of the pipeline company’s stock after selling 635 shares during the quarter. Kennebec Savings Bank’s holdings in Enbridge were worth $529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Sonora Investment Management Group LLC increased its holdings in shares of Enbridge by 7.7% in the fourth quarter. Sonora Investment Management Group LLC now owns 17,324 shares of the pipeline company’s stock valued at $735,000 after purchasing an additional 1,234 shares in the last quarter. Boomfish Wealth Group LLC boosted its position in Enbridge by 0.9% in the 4th quarter. Boomfish Wealth Group LLC now owns 37,703 shares of the pipeline company’s stock valued at $1,600,000 after buying an additional 318 shares during the last quarter. Mediolanum International Funds Ltd raised its position in shares of Enbridge by 82.2% during the fourth quarter. Mediolanum International Funds Ltd now owns 152,794 shares of the pipeline company’s stock worth $6,408,000 after acquiring an additional 68,954 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Enbridge during the fourth quarter valued at $121,000. Finally, Synergy Asset Management LLC acquired a new stake in Enbridge in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $44.45 on Friday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. 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 firm has a market cap of $96.82 billion, a PE ratio of 20.58, a P/E/G ratio of 4.11 and a beta of 0.93. The business’s 50-day moving average price is $43.09 and its two-hundred day moving average price is $41.08.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 EPS. As a group, research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analyst Ratings Changes

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