New Hampshire Trust Decreases Position in Enbridge Inc. (NYSE:ENB)

New Hampshire Trust reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,345 shares of the pipeline company’s stock after selling 745 shares during the period. New Hampshire Trust’s holdings in Enbridge were worth $566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. McIlrath & Eck LLC grew its holdings in 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 purchasing an additional 295 shares in the last quarter. Grove Bank & Trust increased its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the 3rd quarter valued at about $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 1.1 %

Shares of NYSE ENB opened at $44.53 on Tuesday. 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’s 50 day moving average price is $42.75 and its two-hundred day moving average price is $40.60. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.90. The stock has a market capitalization of $97.00 billion, a P/E ratio of 20.62, a PEG ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results 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 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 period in the prior year, the company posted $0.46 EPS. On average, analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

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.