Community Bank N.A. Sells 1,050 Shares of Enbridge Inc. (NYSE:ENB)

Community Bank N.A. lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,049 shares of the pipeline company’s stock after selling 1,050 shares during the quarter. Community Bank N.A.’s holdings in Enbridge were worth $38,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC raised its holdings in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the 4th quarter valued at about $28,000. Financial Gravity Asset Management Inc. raised its stake in Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new stake in Enbridge in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock traded down $0.10 during midday trading on Friday, reaching $36.16. The company’s stock had a trading volume of 870,006 shares, compared to its average volume of 5,723,487. 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 stock has a market cap of $76.87 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The business has a 50-day moving average price of $35.16 and a 200-day moving average price of $34.78.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.49%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is 129.05%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENB. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.20.

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.