Bangor Savings Bank Sells 1,202 Shares of Enbridge Inc. (NYSE:ENB)

Bangor Savings Bank lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,090 shares of the pipeline company’s stock after selling 1,202 shares during the quarter. Bangor Savings Bank’s holdings in Enbridge were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. raised its stake in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares in the last quarter. Associated Banc Corp raised its stake in shares of Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after buying an additional 248 shares in the last quarter. Hobbs Group Advisors LLC lifted its holdings in shares of Enbridge by 15.1% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after acquiring an additional 249 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after acquiring an additional 256 shares during the period. Finally, First PREMIER Bank boosted its position in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ENB. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. 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 stock has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Shares of Enbridge stock opened at $42.97 on Tuesday. The stock has a market capitalization of $93.60 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 4.14 and a beta of 0.93. The firm’s 50-day moving average price is $42.24 and its two-hundred day moving average price is $40.06. 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 Inc. has a 1-year low of $32.85 and a 1-year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company earned $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 6.24%. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

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.