STAR Financial Bank Sells 565 Shares of Enbridge Inc. (NYSE:ENB)

STAR Financial Bank trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,866 shares of the pipeline company’s stock after selling 565 shares during the quarter. STAR Financial Bank’s holdings in Enbridge were worth $238,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew 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 purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the second quarter worth $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5 %

Shares of ENB opened at $42.79 on Thursday. The company has a market capitalization of $93.19 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.18 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.31. The stock’s 50-day moving average price is $41.29 and its 200-day moving average price is $38.59. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for 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 quarter in the prior year, the firm posted $0.46 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.32%. Enbridge’s payout ratio is presently 121.76%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.