Enbridge Inc. (NYSE:ENB) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,162 shares of the pipeline company’s stock after selling 3,455 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Enbridge were worth $5,862,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the second quarter valued at about $28,000. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Grove Bank & Trust lifted its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Enbridge in the 3rd quarter worth approximately $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of Enbridge stock opened at $44.53 on Monday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.90. The firm has a fifty day simple moving average of $42.75 and a 200-day simple moving average of $40.57. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $97.00 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 previous year, the business posted $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. Enbridge’s payout ratio is 121.76%.

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.