Farmers Trust Co. Sells 769 Shares of Enbridge Inc. (NYSE:ENB)

Farmers Trust Co. trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,296 shares of the pipeline company’s stock after selling 769 shares during the quarter. Farmers Trust Co.’s holdings in Enbridge were worth $267,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC increased its position in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB stock opened at $44.05 on Thursday. The stock has a market cap of $95.95 billion, a PE ratio of 20.39, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. The company has a 50-day moving average price of $42.37 and a 200 day moving average price of $40.15. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.08%. Enbridge’s payout ratio is 124.07%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ENB. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

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.