Stock Yards Bank & Trust Co. Sells 2,222 Shares of Enbridge Inc. (NYSE:ENB)

Stock Yards Bank & Trust Co. trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,150 shares of the pipeline company’s stock after selling 2,222 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Enbridge were worth $2,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 2.2% in the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after buying an additional 664,057 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Enbridge by 5.1% during the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after purchasing an additional 1,353,753 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Enbridge by 13.9% during the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after purchasing an additional 2,756,079 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $35.35 on Tuesday. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The company’s 50 day moving average is $35.05 and its 200 day moving average is $34.73. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market cap of $75.15 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of $55.20.

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.