CENTRAL TRUST Co Sells 683 Shares of Enbridge Inc. (NYSE:ENB)

CENTRAL TRUST Co cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,414 shares of the pipeline company’s stock after selling 683 shares during the period. CENTRAL TRUST Co’s holdings in Enbridge were worth $1,927,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ENB. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new position in Enbridge during the fourth quarter valued at approximately $29,000. Grove Bank & Trust boosted its position in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of Enbridge during the 3rd quarter valued at $35,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Trading Down 2.7 %

Shares of Enbridge stock opened at $43.29 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $94.31 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The business has a 50-day moving average price of $43.11 and a 200-day moving average price of $41.19.

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. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.19%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 121.76%.

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.