First County Bank CT Sells 4,927 Shares of Enbridge Inc $ENB

First County Bank CT decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,829 shares of the pipeline company’s stock after selling 4,927 shares during the quarter. First County Bank CT’s holdings in Enbridge were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after buying an additional 1,569,879 shares in the last quarter. GQG Partners LLC lifted its holdings in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after buying an additional 1,148,580 shares in the last quarter. TD Asset Management Inc lifted its holdings in Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock valued at $1,737,602,000 after buying an additional 513,058 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after buying an additional 1,680,116 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $49.59 on Monday. The company has a market capitalization of $108.15 billion, a PE ratio of 24.43, a P/E/G ratio of 4.54 and a beta of 0.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a 50-day simple moving average of $47.58 and a two-hundred day simple moving average of $45.90. Enbridge Inc has a one year low of $39.73 and a one year high of $50.15.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the company earned $0.58 earnings per share. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

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.