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

Home Federal Bank of Tennessee reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 53,172 shares of the pipeline company’s stock after selling 650 shares during the quarter. Enbridge comprises about 0.7% of Home Federal Bank of Tennessee’s holdings, making the stock its 22nd largest position. Home Federal Bank of Tennessee’s holdings in Enbridge were worth $2,256,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ENB. AQR Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter valued at approximately $303,000. Herbst Group LLC lifted its holdings in shares of Enbridge by 12.9% during the third quarter. Herbst Group LLC now owns 17,500 shares of the pipeline company’s stock worth $711,000 after purchasing an additional 2,000 shares during the period. Diversified Trust Co acquired a new stake in shares of Enbridge during the third quarter worth $1,286,000. MKT Advisors LLC acquired a new stake in shares of Enbridge during the third quarter worth $231,000. Finally, Salvus Wealth Management LLC lifted its holdings in shares of Enbridge by 1.7% during the third quarter. Salvus Wealth Management LLC now owns 18,916 shares of the pipeline company’s stock worth $768,000 after purchasing an additional 315 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Trading Down 2.7 %

NYSE:ENB opened at $43.29 on Monday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The stock has a market capitalization of $94.31 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 4.02 and a beta of 0.94. The stock has a fifty day moving average price of $43.11 and a two-hundred day moving average price of $41.22. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.54 billion. During the same quarter last year, the business posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 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.