Enbridge Inc. (NYSE:ENB) Shares Acquired by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 53,822 shares of the pipeline company’s stock after buying an additional 850 shares during the period. Enbridge makes up approximately 0.6% of Home Federal Bank of Tennessee’s portfolio, making the stock its 24th largest holding. Home Federal Bank of Tennessee’s holdings in Enbridge were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the second quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter valued at $31,000. Finally, Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Price Performance

Shares of NYSE ENB traded down $0.17 during trading on Tuesday, hitting $41.37. The company had a trading volume of 296,243 shares, compared to its average volume of 4,931,382. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market cap of $88.28 billion, a P/E ratio of 21.00, a PEG ratio of 3.94 and a beta of 0.93. The business’s 50-day moving average is $40.43 and its 200 day moving average is $37.59.

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

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.47%. Enbridge’s dividend payout ratio is 134.01%.

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.