Mechanics Bank Trust Department Has $2.79 Million Holdings in Enbridge Inc. (NYSE:ENB)

Mechanics Bank Trust Department trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,839 shares of the pipeline company’s stock after selling 2,089 shares during the quarter. Mechanics Bank Trust Department’s holdings in Enbridge were worth $2,794,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ENB. Dimensional Fund Advisors LP raised its stake in Enbridge by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock valued at $86,399,000 after purchasing an additional 25,717 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Enbridge by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock valued at $3,272,000 after buying an additional 3,894 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Enbridge by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock valued at $489,000 after buying an additional 861 shares during the period. Brighton Jones LLC purchased a new stake in Enbridge in the 2nd quarter worth about $205,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Enbridge by 4.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 50,649 shares of the pipeline company’s stock worth $1,802,000 after acquiring an additional 2,165 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

NYSE ENB opened at $44.53 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 stock has a market capitalization of $97.00 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.90. The company has a 50 day moving average price of $42.75 and a two-hundred day moving average price of $40.57.

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, 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 net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business earned $0.46 EPS. As a group, equities analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ENB. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.