Massmutual Trust Co. FSB ADV Lowers Stake in Enbridge Inc. (NYSE:ENB)

Massmutual Trust Co. FSB ADV reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,617 shares of the pipeline company’s stock after selling 2,371 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Enbridge were worth $5,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Vanguard Group Inc. raised its holdings in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the period. TD Asset Management Inc increased its stake in Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after buying an additional 337,729 shares during the period. 1832 Asset Management L.P. boosted its position in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.50.

Enbridge Stock Performance

Shares of ENB stock opened at $40.75 on Friday. The company’s 50-day simple moving average is $39.61 and its 200-day simple moving average is $37.11. Enbridge Inc. has a one year low of $31.03 and a one year high of $41.35. The stock has a market capitalization of $86.96 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.